quote:Invest for the long haul: that's the mantra of mutual fund shils. Meanwhile, the big boys make money by getting in and out quick. Your long-term investments stabilize the market, and they pocket the profit. Feel like a chump? You should. By Jim Stanford.
From: I've got a fever, and the only prescription is more cowbell. | Registered: May 2001
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DrConway
rabble-rouser
Babbler # 490
posted 03 April 2003 06:23 PM
Go Jim Stanford! Tell it like it is, my man.
In Paper Boom, Jim Stanford figured it cost the mutual fund industry more money in its advertising (which, of course, is a "business expense", and therefore tax-deductible) than it costs the non-invested CPP (the part that's still run on a pay-in, pay-out basis) in its entire overhead.
In short, the public pension system is way more efficient than the private one. But don't let the facts confuse y'all, now.
From: You shall not side with the great against the powerless. | Registered: May 2001
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Michelle
Moderator
Babbler # 560
posted 03 April 2003 07:43 PM
Tell me about it, Doc. I really enjoyed the article too. I've been meaning to read This Magazine for a while, and finally got around to checking out their site this morning. I like it that he told it in plain terms for those of us who aren't economics majors.
From: I've got a fever, and the only prescription is more cowbell. | Registered: May 2001
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Timebandit
rabble-rouser
Babbler # 1448
posted 03 April 2003 08:04 PM
I like the fact that he referenced the boom of the 1920s. After doing some reading on the Great Depression a few years ago, it occurred to me we are in a similar cycle as they were in the late '20s. Let's hope we don't fall on times as disastrous as the '30s.
I have a savings account with a good interest rate, which is mostly empty for the moment. I'm in a business where making a living is risky, I don't need the risk involved in the stock market.
Email this thread to someone!
posted 03 April 2003 07:54 AM
