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I propose the following educational topic for
discussion at our September meeting: "Riding
Out The Roller Coaster"

Last night, I heard an impressive statistic
that stated that the average swing (up or down)
(mostly down) has been 160 Dow points over the
last few weeks.

As some of us have discussed, our club NAV
reached $2.42 on July 15th, only to decline
all the way to $1.78 at the close on August 31st.

There's really little comfort in knowing we're
not alone, but we're not. Some of the best
growth fund managers are getting massacred, too.
The Mutual Club of Detroit has plummeted from
$4.6M to $3.6M... what's a million dollars among
friends?

I've been *very impressed* with their general
attitude... the calm... and the real belief that
this represents a genuine opportunity. Their only
real concern is that the opportunity might stick
around for awhile. And that's not so bad from
their personal viewpoint - they're legitimately
concerned about what such a nasty spell might do
to the "average new individual investor." Although
most interviews with the guys/gals on the street
suggest a patience and long term outlook... we'd
rather not see this calm demeanor tested for a
drawn out period of time.

For the October issue of BI, I just finished
working on a series of articles that reinforces
this long-term outlook... including some sage
stuff from that white-haired guy named Lynch.

Part of it included some research that suggests a
three percent performance advantage for investing
regularly vs. lump sums. NAIC's number one
principle is Invest Regularly... and we'll be
exploring this in greater detail in coming months
and years ahead.

Let's talk openly about the reality of staying the
course and the challenges that this would present
to each of us.

Best wishes and Better Investing,

Mark Robertson


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