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Subject:  Re: OT: KISS Date:  8/10/2002  5:40 PM
Author:  sykeMOL Number:  73414 of 882490

2. There is NO luck involved IF the FIRE wannabe is thinking long term. If you think short-term (like most on this board) then I guess you can talk about luck. won't get to least not at a young age.

The papers are full of stories right now about people who are delaying their retirements due to the effect of short term market performance on their strategies calling for heavy investment in equities. Were they stupid for following the course you recommend, or merely unlucky?

I think galeno's point is that you cannot think short term and rely on equities. You must think long term. In another post galeno said that he expects to see many bear markets. Not expecting a bear market and failing to plan for one is an example of not only short term thinking, but wishful thinking as well.

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