Tax Guru-Ker$tetter Letter
Saturday, July 20, 2002
A good friend from the Bay Area, Bruce Howland, who has been an active stock trader for the past few years, passed on this bit of advice.
If you had bought $1000.00 worth of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have $16.50 of the original $1,000.00.
With WorldCom, you would have less than $5.00 left.
If you had bought $1,000.00 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer, then turned in the cans for the 10 cent deposit, you would have $214.00.
Based on the above, my current investment advice is to drink heavily and recycle
Ironically, Bruce's second avocation, music, is now starting to look like the more dependable and less risky one. His group, The Living Water Band, has its own section on mp3.com. They describe themselves as Christian Country. With Bruce's mandolin, it also has a touch of good ole bluegrass.
Fortunately, Bruce's daughter, Catherine has inherited his passion for music instead of gambling in the stock market. I downloaded some songs from her section on mp3.com and was very impressed. Her music is completely original; but does remind me a little of Jewel. Catherine, who also has her own stand alone web site, definitely has a much more dependable and lucrative future ahead of her in the world of music than in stock trading.