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Blind Faith by Edward Winslow

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INTRODUCTIONBEYOND BLIND FAITH— THERE IS CLARITY

AS A SOCIETY, we have placed our faith, hope, trust, and dreams in the upward movement of future stock prices. The wisdom of tying 50, 60, 70 percent or more of our financial net worth to this mechanism is based on the unquestioned underlying assumption that over the long run an investment in stock—a percentage share of ownership in a corporation—is the best place to put our money. As you will discover, this is a myth that we individual investors have come to blindly believe.

As investors we have experienced the jubilation of a roaring bull market and the horrible carnage wrought by a grisly bear market accompanied by colorful corporate scandals. This occurred during a time when our retirement ...

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