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Subject:  Re: Annuities..pros and cons Date:  12/8/1998  5:32 PM
Author:  JeanDavid Number:  354 of 20632

Richard's rule #1 Never invest in any fixed dollar insturments.

While that is a good rule, I think Adam Smith beat you to it in his book An Inquiry into the Nature and Causes of The Wealth of Nations that he wrote about 210 years ago. One of the things he noticed was that Oxford University leased some land to others and the terms included that some of the payment was to be made in silver and some of it in corn. Now the value of silver dropped considerably over the years, but the value of corn remained essentially the same (or perhaps went up). He felt it a good idea to have leases like that for all long-term leases (over 100 years, I believe). It is a huge book (1092) pages and I cannot cite the exact page.
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