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As I'm typing, there is a documentary on TV where they mention the catastrophe for a man just next to his retirement to see the collapse of his stock portfolio, that lost 25% since the start of the crisis.
They say that he had bought oil shares. And that this was a decades long investment.

I'm sorry, but people need to get real. In the past 5 years, oil QUADRUPLED. If you feel entitled to a multiplication by 7 and complain if it doesn't happen, you are not a long term investment. You are a quick profits addict.

On top of that, it's not very wise to have all your wealth in stocks a fortnight before retirement, but I'm not willing to blame people for being careless. On the other hand, I don't feel ready to pity those who quadrupled their savings with oil shares (that I personally shun on ethical grounds).

"The womb that spawned that thing is fertile yet"

by Cyrille (cyrillev domain yahoo.fr) on Thu Oct 9th, 2008 at 03:11:24 PM EST

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