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Subject:  Re: MSNBC's "stock market is gambling" Date:  9/30/1998  6:27 PM
Author:  TMFPixy Number:  5750 of 100867

Greetings, Atrigaux, and welcome. You wrote in part:

Ms. Nelson is, it seems, unacquainted with Foolery. Ms. Nelson is, it seems, is unaware of the stock market's track record of double digit returns over the past several decades. Ms. Nelson is, it seems, unaware of the phenomenon known as inflation.

Ms. Nelson, it seems, is wedded to the anachronism of 'work hard, save some, and you should be able to count on economic security.' Why? Because you just should, and things would be nicest if that were true.

"The sad fact is that when it comes to investing in the stock market, many of us have already lost. We no longer believe that hard work will be rewarded, that retirement will be a time of economic security, or that government programs like Social Security will be there to lend a hand."

What frustrates me about ridiculous articles like this one is that nascent Fools, taking their first uncertain steps toward seizing control of their own financial destiny, are often easily persuaded to return to their former, "safer" ways. Who knows how many Fools-to-be will take this sort of bad advice to heart. Not many, I hope.

I have no idea who Ms. Nelson is nor do I know her area of expertise. From the tenor of her remarks, it certainly seems she is more motivated by short-term rather than long-term concerns, a rather risk-averse approach to investing. Indeed, she seems disinclined to invest at all and apparently prefers saving instead. That's obviously her choice to make, but like you I hope her words have little impact on those who want a better growth in the money set aside for future use.


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