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December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review August 23, 2007 / 9 Elul, 5767

The Long Journey to Quick Wealth

By Larry Elder


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http://www.JewishWorldReview.com | "The Guy," back in my day, was named Joe Granville.


With his slick black hair and dark suits, Granville looked the part of an insider who knew the stock market, but pulled back the curtains so the "little guy" could get some, too. One day Granville said, "Sell everything," and the stock market promptly took a sharp fall — for a day or so. His act worked for maybe a couple of years, until he gave enough advice, made enough predictions so that the bad ones stacked up. People lost interest, and finally wrote Granville off as a crank.


Today "The Guy" is Jim Cramer.


Cramer hosts CNBC's "Mad Money." During a recent stock market sell-off, the stock analyst/investment adviser pronounced the situation "Armageddon."


According to the financial publication Barron's, "Over the past two years, viewers holding Cramer's stocks would be up 12 percent while the Dow rose 22 percent and the S&P 500 16 percent, according to a record of 1,300 of the CNBC star's Buy recommendations compiled by YourMoneyWatch.com, a website run by a retired stock analyst and loyal Cramer-watcher.


"We also looked at a database of Cramer's 'Mad Money' picks maintained by his website, TheStreet.com. It covers only the past six months, but includes an astounding 3,458 stocks — Buys mainly, punctuated by some Sells. These picks were flat to down in relation to the market. Count commissions and you would have been much better off in an index fund that simply tracks the market."


This raises an age-old question. If "The Guy" knows everything — when to buy, when to sell — why not simply park yourself in front of your computer and grow richer?


When I was about 9 or 10, my mom took me, for the first time, to the racetrack. Near the entrance stood several guys standing behind podiums. They sold "tout" sheets. For a price, you could buy a list of horses — expected to win, come in second or come in third — for each race. "Mom," I said, "why don't we buy one of the sheets?" She looked at me and said, "If they know so much, why aren't they inside betting?"


The stock market "crashed" about 20 years ago. Just before this downturn, in a newsletter to her clients, an analyst with one of the major investment firms "predicted" the sell-off. She immediately became "The Guy." Networks elbowed each other to have her on. Pretty, with curly red hair, she made for good television and offered up detailed predictions.


Her advice after the sell-off? Stay out of the markets. The stock market, she said, now resembled a house of horrors, Dante's Inferno, a place to enter only at one's peril. It turned out, in retrospect, that the sell-off presented an excellent buying opportunity. Yet during interview after interview, she gave the opposite advice. As with Granville, enough wrong predictions stacked up, and she lost credibility and faded. The quest began anew for "The Guy."


I know a handful of extremely wealthy people. To my knowledge, none got that way by turning on the television and watching folks like the sputtering, arms-waving, finger-jabbing Cramer tell them what to do right now. The rich guys, whether in real estate or running a business, hunkered down for 20 to 25 years. They got up early, stayed late, lived modestly, spent frugally, and one day woke up rich.


Investing and speculating are two different things. Speculators bounce in and out — trying to catch the next wave. Investors tend to be patient. They recognize that things fluctuate up and down, but they remain focused on the long term.


As for the stock market, Fortune magazine writes that during the '80s, stocks averaged an annual return of 17.6 percent. But, if a trader missed 40 days of the decade's 2,528 trading days — and those happened to be the 40 best days — that trader's annual return would fall to 4 percent. Moral to the story: Nobody knows. Nobody can predict the ups or the downs. But over the long haul, the trend goes up. Here, the operative phrase is "long haul."


Legendary stock-picker Warren Buffett says the most important words about investment were written by his mentor, economist and inventor Ben Graham: " . . . [T]he stock owner should not be too concerned with erratic fluctuations in stock prices, since in the short term, the stock market behaves like a voting machine, but in the long term it acts like a weighing machine (i.e., its true value will in the long run be reflected in its stock price)."


Years ago I watched a television comedy. A character explained why the cops sent him to prison. "I wanted to be rich," he said. "But it seemed the way to get rich was to get up early and work really, really hard. That didn't appeal to me, so I stole."


Sorry, no short cuts.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

JWR contributor Larry Elder is the author of, most recently, "Showdown: Confronting Bias, Lies and the Special Interests That Divide America." (Proceeds from sales help fund JWR) Let him know what you think of his column by clicking here.

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© 2006, Creators Syndicate

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