The real business of the war is all theatre/theater

[Terrance]

> Buy and hold doesn't work unless your name is Warren
> Buffett.  

False! It works for little old ladies, schools, orphanages, the Catholic
Church,  AAA-Rated Insurance Companies and Banks ... it works for the US
government and the Japanese government ...  and so on. 

Fund managers now keep a company for ten months on
> average in order to get the short-term performance they need to
> keep their jobs. Buy an index fund unless one can actually admit to gambling.

False! Most portfolio managers simply don't have the legal right to
speculate and trade for short-term capital gains.  Even if they do, and
lots of MUtual funds managers do, they can't beat the blind dart tossing
monkey (or the index or averages) if they turn the portfolio over and
over. 



> 
> The money is probably in science-managing Poklers and
> consolidating corporate positions.

The money is real estate. But with the rising price of real estate
everyone has suddenly got all their eggs in one basket. How can one
diversify and make real gains? Not by day trading oil futures and
defense stocks during a war. Buy MRK and hold it. 

You're in good Legs, with Jane