| Let's see, he had some oats, fresh alfalfa and his | | | | and mirrors. I read the Annual Report, but I forgot that |
| vitamins. I know from the mixture that is great food | | | | "annual" means that much of the information is over a |
| and he will win the seventh race this afternoon. He | | | | year old. How much help can that be? And I forgot |
| can't lose because of his diet and a great jockey will | | | | that the prospectus was not written to enlighten me, |
| be riding him. | | | | but for the bean counters in Washington. It is supposed |
| Kinda reminds me of what my broker (horse trainer) | | | | to make available to me all the financial information I |
| told me to do when I was selecting a mutual fund to | | | | need to make a decision to buy. All of this research is |
| buy. He said to check out what was in the fund (the | | | | nonsense, as it will not tell me the one most important |
| mixture of stocks, like my horse's breakfast) and to | | | | thing I need to know - will the price increase so I can |
| see if there was a good fund manager (the jockey). I | | | | make a profit? Unfortunately, my broker is not going to |
| did what he said and carefully read the annual report | | | | be much help here either as he has been trained by |
| and the prospectus too. Sounds great so I bought it. | | | | the Wall Street method which has nothing to do with |
| What I can't understand is I did all the things the horse | | | | making money or protecting my capital. |
| trainer said I should and "Rocket", my horse's name, still | | | | Anyone can look up all kinds of information, but when it |
| came in 6th in an 8-horse race. All I wanted him to do | | | | comes down to it ask this question: Will knowing all that |
| is come in first and I can't say I'm crazy about that | | | | stuff make me any money? I always figure that if I |
| mutual fund either. | | | | can find it out it isn't worth knowing any more because |
| That fund has a 5-star rating, is managed by one of | | | | that information is already reflected in the price of the |
| the great names on Wall Street and has 60 of the | | | | stock or mutual fund. So why bother? |
| best known company stocks I can think of and yet it is | | | | Wall Street brokerage companies want you to do all |
| going down. I am doing everything that conventional | | | | that "research" because if what you buy doesn't go up |
| wisdom says I should, but I continue to lose. Is there | | | | they can say you knew everything about it before you |
| and answer? | | | | bought it. It wasn't their fault you did not understand it. |
| I am not so sure about the horse, but I know the | | | | I think I'll sell that horse. And quit listening to my broker. |
| conventional wisdom of Wall Street is mostly smoke | | | | |