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<p>[QUOTE="kaparthy, post: 4431265, member: 57463"]<font face="Georgia"></font></p><p><font face="Georgia">Again, from 1916 forward to the eve of the 1980s when we had the discussion, that period includes the Depression years. The Dow Jones Industrial Averages did not regain their 1929 level until 1954. In the mean time, you could have run a coin store, as did Max Mehl, Thomas Elder, and many others. You could have done many other things and made money in many other ways. </font></p><p><font face="Georgia"><br /></font></p><p><br /></p><p><font face="Georgia"><br /></font></p><p><font face="Georgia">Well, yes, when it comes to "day trading" the stock markets or playing with commodities futures. But, obviously, your barber, auto mechanic, coin store, ... they all seem pretty good at guessing that you will pay them rather than go into it for yourself. </font></p><p><font face="Georgia"><br /></font></p><p><font face="Georgia">We had this discussion at work one day. My rhetorical question: "Why isn't everyone a brain surgeon making a million dollars a year?" It is not just for lack of skill or intelligence or opportunity, or (as you suggest) ignorance of the markets.</font></p><p><font face="Georgia"><br /></font></p><p><font face="Georgia">And, actually, perhaps it should bear some investigation as to whether "most people" are "wrong most of the time" when you consider that most people (at least in the post-industrial nations) are mostly doing very well over time, gaining wealth, improving their standard of living. </font></p><p><font face="Georgia"></font>[/QUOTE]</p><p><br /></p>
[QUOTE="kaparthy, post: 4431265, member: 57463"][FONT=Georgia] Again, from 1916 forward to the eve of the 1980s when we had the discussion, that period includes the Depression years. The Dow Jones Industrial Averages did not regain their 1929 level until 1954. In the mean time, you could have run a coin store, as did Max Mehl, Thomas Elder, and many others. You could have done many other things and made money in many other ways. [/FONT] [FONT=Georgia] Well, yes, when it comes to "day trading" the stock markets or playing with commodities futures. But, obviously, your barber, auto mechanic, coin store, ... they all seem pretty good at guessing that you will pay them rather than go into it for yourself. We had this discussion at work one day. My rhetorical question: "Why isn't everyone a brain surgeon making a million dollars a year?" It is not just for lack of skill or intelligence or opportunity, or (as you suggest) ignorance of the markets. And, actually, perhaps it should bear some investigation as to whether "most people" are "wrong most of the time" when you consider that most people (at least in the post-industrial nations) are mostly doing very well over time, gaining wealth, improving their standard of living. [/FONT][/QUOTE]
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