>>BTW - Jeremy Stein at Wharton claims that stocks outperform any investment
>>over any thirty year period.
>>
>>What sayeth Doug (re: latest LBO)
>
>>They do. What no one can explain is why.
>
>>Doug
>
>Now, I thought Billie Holiday had answered that one: "Them's that got shall
>get, them that's not shall lose, So the Bible says, and it still ain't
>news."
Yeah. My use of "explain" was too narrowly technical. Stocks are claims on capital assets and the profits they throw off. It makes sense that they should flourish over the long term, especially the national stock market of capitalism's top dog. By definition, the masses are largely excluded from the process, which is yet another reason to assume that neophyte mutual fund investors are going to get burned.
Doug