Friday, March 15, 2002

Adventures in Investing: I'm in the process of selecting some mutual funds for my father. A couple of years ago, he loaded up on telecom stocks and then proceeded to get hammered by the market. He's way down on those puppies, so now he's a bit gunshy and he's left some cash just sitting there. I've already picked Oakmark Equity & Income and Fidelity Investment Grade Bond. Normally, I would recommend a couple of index funds for most people, but my father's account is at Fidelity and they don't offer index funds. One company that does is Vanguard. After reading John Bogle's book Common Sense on Mutual Funds, I am convinced that index fund investing is the right choice for almost everyone. Bogle--Vanguard's founder--lays out a near bullet-proof case for index fund investing and against actively managed funds. I'm a believer.

Scary News: The Associated Press reports that Tipper Gore, wife of ex-Vice President Al "Alpha Male" Gore, is thinking about running for her husband's old Senate seat in Tennessee. I don't know what it is about people like this. These DemocRATS seem to have a sense of entitlement, like some kind of feudal lord. Don't be surprised if she does run, or if their children run for office once they reach the minimum age. Political power must be as addicting as heroin. It's already a forgone conclusion that Al's running again in 2004.

Know Thy Audience: The New York Times sneers (requires registration) at Fox for knowing where the country's taste lies as 15.5 million tuned in to their pop culture brawl, Celebrity Boxing. Why is everyone so surprised ? This country elected Bill Clinton twice, does not care about his administration's criminal behavior and takes his wife seriously as a possible presidential candidate. What did they think they would rather watch - Masterpiece Theater?


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