"There are only two ways of telling the complete truth—anonymously and posthumously."Thomas Sowell

Monday, January 03, 2005

Kinsley Report Undercounts Homo Sapience

Mr. Reynolds indites and indicts Kinsley and Lauricella for hindsight, which in stock market terms is 20-20.8 vision. I am less charitable and fault them for hindspeech.

K. & L. complain that amateurs are averaging 6.4 return while pros are delivering 6.8. Well, guess what, a) that is statistically insignificant, b) so the amateurs can hire pros, c) d) and e-z) the freakin' government return is zero. They are just lending the money to themselves on the premise that your grandchildren will stake them with tax money to pay themselves back. In other words, your profligate Uncle Sam spent your retirement money and your kids have to support you after all. What a crock! You would think that Kinsley and Lauricella would be thrilled to have their money hit the Wall Street - they need not bear down so hard; let me assure them that when they sit down to talk investing, the bulls hit!

1 comment:

Tlaloc said...

Good, good. Beause what we really need is another way to funnel money toward unscrupulous brokerage firms.

Just one example of many recently: