Stock picking, not deer hunting.
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Then my son-in-law starts telling me the same thing about Apple, its freedom from debt and customer loyalty (all my kids swear by MacBook and iPod), etc. Soon I am starting to get that strange feeling — the shaking, the sweating, the breathing, the tension — which numerous deer hunters have described as they sit in a tree stand, freezing their whatever off, waiting for that once-in-a-lifetime shot at that massive, antlered buck, you know, Bambi’s elusive ol’ man.
This is a new feeling for me. For almost my entire adult life, I have avoided picking individual stocks as a game for suckers or truly brilliant investors such as Warren Buffett or Peter Lynch, who made Fidelity Magellan Fund into such an icon for many years.
I drank all the Kool-Aid served up by the likes of John Bogle, founder of the Vanguard Funds, and Burton G. Malkiel, the author of A Random Walk Down Wall Street, now in its umpteenth edition. I walked the path of efficient markets, no-load index funds and the management of risk through slavish mimicry of the entire market, not just the domestic market but global markets, nay, inter-galactic markets. I was, ontologically, mindlessly, a Boglehead. The market is smarter than any one of us.
It is astounding what a 30-40 percent drop in market value will do to a man. Intel, American Express, Apple! Buy low, sell high. Open an account. Call a broker. Have nice chat with that pretty blond on Charlie Schwab’s website. Where will it all end?
It will all come to tears.
(Mr. Mehan is still paying college tuition for the youngest of his seven children in Northern Virginia.)
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?