Reply #143: misguided rant imo

[paulsby]

the dow is a PROXY

the dow is an index of 30 industrial stocks. as a general proxy, it says something about the performance of, and confidence in (stocks are forward looking instruments) basic industrial giants in america.

i make money from trading dow futures (full disclosure here).

the thing is not to reify the dow.

but the stock market is a wonderful thing. it is a very democratic institution (race, creed, gender, etc. don't matter when you are a # in the order book), and it allows companies to help raise capital, and it allows ordinary citizens to participate in the success (or failure) of the companies of their choice.

that is a wonderful opportunity. if you have enough money to buy even one share of stock, or make a minimum purchase in a mutual fund, you can participate in OWNERSHIP of some of the greatest companies ever known to man.

and YOU can vote with YOUR money. don't like companies like altria (phillip morris)? don't invest in them.

it's very empowering, and a pretty amazing thing when you think about it.

a booming stock market helps a lot more people than you realize. individual participation in the market (whether through retirement accounts, personal investment accounts, etc. etc.) is much higher than it was 30 yrs ago for instance. it is not just the rich and powerful. it is a striking cross section of americans.