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Subject:  Re: Buying stocks and Patriotism Date:  9/18/2001  11:58 PM
Author:  denpup Number:  778 of 4217

We know that anyone who uses energy in a positive way will receive positive results.

I really don't understand this statement. It sounds good on the surface, but is very general and hard to interpret. Not sure what you mean by “in a positive way,” but I know I've expended energy many times in my life with good intentions (wouldn't that be a “positive way”?), but my results have been anything but positive.

And if I had been online when my well-intentioned friend in Alabama e-mailed me before the market opening on Monday, saying she wanted to be patriotic and buy stocks, I would have done all I could to talk her out of that lame-brained notion. Her “investment in America” was more likely a donation to institutional buyers and savvy day traders who know how the market ticks and play it – as they should – for their own gain. In fact, in my opinion, our faith in the market would be shaken if we were to think prices do not reflect all there is to know about a stock at any given time – and pouring money into the market for patriotic reasons alone will only falsely inflate prices and undermine the system.

Would be much better to contribute to Red Cross or a New York City fireman's fund, help with efforts to reunite pets with owners, or go give a pint of blood. Or fly a flag, for that matter.

Deane (pup)

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