Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate diversification, the payment of high and unnecessary fees to managers and advisors, and the use of borrowed money can destroy the decent returns that a life-long owner of equities would otherwise enjoy. Indeed, borrowed money has no place in the investor's tool kit.
There is no question that an important service is provided to investors by investment companies, investment advisors, trust departments, etc. This service revolves around the attainment of adequate diversification, the preservation of a long-term outlook, the ease of handling investment decisions and mechanics, and most importantly, the avoidance of the patently inferior investment techniques which seem to entice some individuals.
The steamship whose machinery is broken may be brought into port and made fast to the dock. She is safe, but not sound. Repairs may last a long time. Christ designs to make us both safe and sound. Justification gives the first - safety; sanctification gives us the second - soundness.
The meditative state is the highest state of existence. So long as there is desire, no real happiness can come. It is only the contemplative, witness-like study of objects that brings to us real enjoyment and happiness.
Sure I am of this, that you have only to endure to conquer. You have only to persevere to save yourselves, and to save all those who rely upon you. You have only to go right on, and at the end of the road, be it short or long, victory and honor will be found.
I have never been able to understand why the tax comes as such a body blow to many people since the rate on long-term capital gain is lower than on most likes of endeavor (tax policy indicated digging ditches is regarded as socially less desirable than shuffling stock certificates).
If people want to get to know me better, they've got to know my parents and the values my parents instilled in me, and the fact that I was raised in West Texas, in the middle of the desert, a long way away from anywhere, hardly. There's a certain set of values you learn in that experience.