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Subject:  Re: Transforming my 401k from Wise to Foolish Date:  9/30/1998  6:32 PM
Author:  TMFPixy Number:  5756 of 101025

Victor, you wrote:

In reflecting, it became clear to me that what was troubling me was not the loss, but the lack of control. While I believe that my fund choices were sound in the context of an all mutual fund 401k plan that did not have an index fund choice, the more important issue for me was whether I wanted to make decisions in the context of mutual funds at all given the choice. I am certain that I do NOT, and so the decision is one fundamentally of control over my finances. My employer has now given me the choice between a Wisely managed 401k or a Foolishly self-managed 401k. In that context, I feel I must choose to be Foolish 100%; not out of disrespect for the wise or a naive assumption that I as a Fool will always post a gain, but out of a respect for myself and the comfort that all future investment decisions in my 401k (gloriously positive and painfully negative) will be transparent with a trail leading not to the plush offices of the Wise but to a Fool--ME!

And that, sir, is what Foolishness is all about. I salute you for expressing the concept so eloquently.


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