On 4/18/10 12:06 PM, Eisboch wrote:
wrote in message
m...
On 4/18/10 11:25 AM, Eisboch wrote:
wrote in message
...


and you have the density of a black hole. i've been saving in my 401K
since congress created it 30 years ago.




You have not been "saving" in your 401K. You've been placing bets in
your
401K.
You are betting that your investment will grow based on the performance,
success and work of others.

A 401K plan invested and managed for you or by you in the stock market
*can*
produce much higher returns than other investments or savings plans.
That,
plus the matching funds that some employers make have made them
attractive.

But ... it's still not a guarantied savings plan. There are risks
associated with it. Correct me if I am wrong.

In my world, I haven't and don't invest any more money in the stock
market
than that I am willing to lose. I certainly didn't plan my retirement
based
on it.

Old fashioned, but it works for me. I am arrogant enough to rely mostly
on
my own performance.

Eisboch




Agreed, and since wall street was and is operated by crooks whose primary
goal is to enrich themselves by whatever means necessary, investing in
wall street offerings is both risky and stupid.


Sorry but I can't agree totally to that. There certainly have been some
companies managed by greed. There have been some run by outright crooks.
But I also believe that there are many that are run honestly,within the law
that offer good produces, services and investment opportunities.

With one exception, the few stocks I hold are in companies that I know
something about, am familiar with their products and track records and, in
some cases, know some of the senior management.
I based my risk of investment on that knowledge. They don't make major
headlines, aren't involved in shareholder fraud lawsuits, or otherwise show
up much on the radar screen. They are all well managed, successful without
being greedy and have shown an ability to adapt to changing times and
markets.

I've held them for many years. Despite the wild swings in the economy and
crash of 2008, the modest investments I made have steadily grown 5 to 6
times or more.

The only "new" stock I bought recently was Ford and did so when they were at
about $1.46 a share and GM and Chrysler were just about goners. (well,
actually, they *were* goners).

I was impressed by the determination of Ford to forego government bailout
money and attempt to make it on their own. So far they have.

I can't say that for the brokerage houses that manage investments via 401K
contributions or direct investments, but I am not qualified to judge. I've
never used one. Don't trust them.

Eisboch




Ahhh. Well, I got entirely out of the market some years ago, but I've
crept back in a little. Bought some Apple stock last year at about $130
or so, and it is doing ok.



--
The Tea Party's teabaggers are just the Republican base by another name.