... for turning off my brain again.

It's for this reason that I avoid the news -- it's generally written to make you more foolish.

I once thought there was something to investment cycles. Now, I feel that even if they do exist, they are completely irrelevant. It does not matter what is going on; rather it matters what you do.

There are lots of stories about people who "did not participate" in the great depression, even. As for today, I know an investor who has made lots of money in this "downturn" in the markets (even after the so-called tech-crash), and he made it by investing in the same stocks you and I can buy. He has also chosen not to participate in this recession. (I too, have made money doing the same thing, but I'm newer at it and my story is not as interesting.)

Thanks for the wake up, Michael -- I needed that.

Best,
Phil

P.S. -- Nice job on your MSI report. I'll have to post some comments on it when I get a chance.

> That's a good one...

> Has anyone thought that maybe what is being
> called a "start up" has been
> re-defined? Or that maybe, people are
> starting things without going through all
> the government red tape? How is a
> "start up" or self-employment
> measured anyway?

> To quote: "self-employment rose as
> laid-off workers started companies"

> If they are basing a rise in self-employment
> by seeing new companies being started, then
> the figures will certainly be wrong.

> "the share of all workers who are
> self-employed fell, a USA TODAY analysis of
> Labor Department data found."

> A USA TODAY analysis? Oh yeah... that's just
> got to be accurate, eh? Now a JOURNALIST can
> analyze data? Who was it... the writer of
> the article?

> I would also be interested to know the
> political leaning of the writer and the
> newspaper overall. Because these things have
> an effect on the slant of the news.

> "Experts say entrepreneurship has been
> hurt by..."

> WHO are these experts? And WHAT are they
> experts of?

> This is scare-mongering news... written to
> paint a certain picture...

> "Many would-be entrepreneurs say they
> can't afford to start a company because
> employer health insurance premiums are so
> high"

> How do you find a would-be entrepreneur? Are
> they like "gonna" people? I'm
> gonna do this and gonna do that - but it
> never ever happens.

> I would have done such and such BUT....
> [insert your pathetic excuse here]

> "Many firms begin with less than
> $20,000, often borrowed with credit cards,
> the source of 39% of small-business loans,
> Federal Reserve data say"

> So unless my "start up" is funded
> by credit card the Fed Res doesn't think
> I've started anything. Oh gosh gee... that's
> an accurate way to measure start ups... NOT!

> "Would-be entrepreneurs might be
> hesitant because CEOs are in the doghouse
> amid alleged wrongdoing"

> Oh Pulease... what a load of felder carb. I
> can just see it... "honey, I can't
> start up a lawn mowing business because the
> CEO of Worldcom riped people off." Sha!

> "VCs pumped $5.7 billion into start-ups
> in the second quarter, down 53% from a year
> ago."

> Oh, what about the first quarter? (Better
> not mention that one because it showed a
> vast increase... hmmm... and how are things
> looking for the third quarter?)

> But the best is yet to come...

> "Just 16% of parents want their
> children to become CEOs, a Harris Poll found
> in July, down from 28% in 1992"

> WHO are these parents? WHAT was the actual
> question asked of them? WHERE do they live?
> WHAT is their political leaning?

> "And 76% of adults respect
> entrepreneurs, down from 91% in 1999, a
> Babson College poll of 2,000 adults found
> last year"

> Again, WHAT was the question? WHO precisely
> were these "adults"? (21 year olds
> at some socialist infected college?) WHERE
> were these "adults" located? WHEN
> was the question asked?

> Asking 2,000 people a question is not a true
> representation of anything. And the results
> mean nothing unless they are also released
> with the full details of the questioning -
> actual question, time of day question was
> asked, political leaning of person
> answering, sex, employment status, and so
> on.

> Thanks for the laugh, Boyd.

> Michael (I REFUSE to participate in a
> recession) Ross