Hi AIMSter and Al, Re: AIM and Money................
Thank you for the thoughts on what's probably one of the most neglected subjects our educational process has. Over the years I've corresponded with a lot of folks. One thing I've found is that AIM users desire to be something other than roller coaster riders. Where that desire comes from I can't say.
I know I learned some things about investing from my family. I know some relatively wealthy people who don't have a clue as to what to do with their accumulated wealth. What has always seemed odd to me is that people will work themselves nearly to death to make money, but have casual disregard for what to do with it once it's been accumulated. I think personally that there's some sort of "guilt" mechanism involved. If one has money, one should feel guilty! This may be more true of people who've inherited wealth from another generation. There the guilt is magnified because they didn't do the sweaty part of accumulation.
I feel the biggest part of feeling good about wealth accumulation, no matter where the source, is knowing that one is being a good steward. This is where so many people lack education. Many people who inherit wealth are not given an Instruction Book for nurturing that asset. It would be like an eight year old finding a baby on the front steps and trying to figure out how to nurture it alone. Not fair for the 8 year old and not fair for the baby.
Mr. Lichello's book inspired me. I had, by luck and trial, found cash to be a worth while asset in my early days of investing. However, I used it poorly before coming across AIM. For whatever FATE had in mind, I had been frustrated in not finding more people who were financially aware back in the early '90s and discovered Prodigy's Money Talk Bullitin Boards. Here I finally found a group of people that had some concept of what Investing was about. They ranged from Manic/Depressive compulsive gamblers to very steady and rational students of the market.
That early development of the Internet fired up my enthusiasm to spread the Lichello story. It was such a compelling story for me, I figured it would be for other rational investors.
So, here we are more than a decade down the road. We've weathered some really rough storms and are still afloat. Sunday Morning on CBS was all about Money today. A big part was devoted to the personal debt crisis that is upon the U.S. Debt exclusive of mortgages is outrageous. Including mortgages it's beyond my comprehension.
Let's hope the population wakes up soon from its indulgent sonambulance.
Thanks to everyone who contributes here. Thanks to all who read here and have become better and more productive investors whether they post or not.
Let's keep compounding our portfolios!
Best regards, Tom
Port Washington, WI 53074
AI
