----- Original Message -----
From: Al Winslow <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Thursday, August 08, 2002 3:11 PM
Subject: RE: {W&P} SV: SV: Definitions
>
>
> Claes Persson wrote:
>
> Are they going to find work now when they are no longer in the prime of > their age?
>May be or may be not, but in any case their pensions are also > reduced (providing
>that new employer agree to a pension fund, but only > if the pension fund is used to
>by shares in that company, right?). If > not, it's gone.
> >
> -----------------------------
>
> The crooked executives at Enron [and other companies] violated laws and > are going
>to be prosecuted and punished.
>
> Investors, whether we are talking about pension funds or just the
> general investor, are very unwise to put everything on one stock. That's > gambling,
>even if the company is well-run by honest executives.
--However, as the climate in a company is as it is, the pension funds are going to be
used only for the own company shares or get fired. Then what's the choise?
>
> You have to diversify.
--Did they have a free will to diverse?
>
> Over a twenty year period there's no way a diverse portfolio can go
> broke. For example, the S&P 500 has only had two five-year losses in the > last 64
>years! From 1938 until today, it has been some downs but a lot > of ups, and way up
>overall.
--That's all well. If there is a choise.
>
> A small amount of money spread around among good stocks back then would > have
>become a considerable fortune by now.
>
--Then, may be not. Stocks are not a safe investment. How much is lost on the stock
market since the peak?
> If you start young, investing in things like well-run mutual funds and
> blue-chips, > you can't go wrong over the long haul. You'll have some losers but
>they > will be more than compensated for by the winners.
--I agree, but have you ever met a twenty years old that is aiming for his retirement?
What kind of society are we creating if you have to start thinking of the pension at
the age of twenty? No family. No mariage. No children. Just aiming for the pension.
>
> Companies like GM are, themselves, diversified.They are going to be
> around for a long time in one form or another.
--Agreed. As I wrote. Along came Mr Ford and spread the owning of a car to everybody
that really wanted one without beeing a very wealthy person with a sence for playing,
He made the car an item for travelling.
>
> If there was ever a twenty-year period in which the markets as a whole > went down
>it would be a time of such economic chaos that NOTHING you > could do with your money
>[if you could get any] would be safe.
--Agreed, but on the other hand it would be safer for most people that they were not
entitled to put the pension money in just one company as they were expected in Enron
in order to prove that you beleived in your working place.
>
> If things ever get _that_ bad the only investment that would do you any > good would
>be a cave full of canned food and ammuntition.
--I don't think so as you would not be able to buy ammunition. All is sold out.
--But still. Keep the corporations away from the pensions.
Claes
§( :8-)
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