Page 253 - Adobe Photoshop PDF
P. 253
the other hand, investments in large companies that many considered to
EH PRUH FRQVHUYDWLYH RIWHQ WXUQHG RXW WR EH YHU\ SUR¿WDEOH 2QH OHDUQV
as well, that the price of stock varies based on group psychology, not
objective facts. That situation provides opportunity for an independent
thinker. I made it a habit of measuring the results achieved in my IRA
VWRFNV ZLWK WKH 6WDQGDUG 3RRU¶V ,QGH[ 7KH 'RZ -RQHV ,QGXVWULDO
Average, which is commonly used as the stock market criterion, is not
a good measure because it is limited to 30 stocks. One warning: never
rely on tips on the stock market.
The politics and current events were an everyday basis for dis-
cussion around our familys dinner table as I grew up. Ideas, policies
and personalities were discussed regularly. I recall hurrying home from
school on Friday afternoons in order to read Time magazine, which ar-
rived in the Friday afternoon mail. (In those years, Time was truly the
national news magazine and had a much higher informative value than
it does at present). In 1956 and onward, I read The Economist, which
, ¿QG WR EH WKH EHVW QHZV PDJD]LQH DQ\ZKHUH , DOZD\V OLNHG WR UHDG
and retirement gave me even more opportunities to do so. I am mostly
D QRQ¿FWLRQ UHDGHU IRFXVHG HVSHFLDOO\ RQ KLVWRU\ HVSHFLDOO\ :RUOG :DU
,, SROLWLFV DQG FXUUHQW D൵DLUV 5LFKDUG DQG , RIWHQ H[FKDQJH ERRNV
Sometimes I get the impression from younger generations that
P\ JHQHUDWLRQ ZDV TXLWH QDwYH DQG XQVRSKLVWLFDWHG 1RW DOZD\V ,Q
1934 Senator William H. King was scheduled to speak one Sunday af-
ternoon at the Eastern Orthodox Church in Salt Lake City. Greeks from
all over the Valley assembled to hear him. The meeting was held in a
large hall beneath the chapel. Dad took me with him. Senator King had
recently visited Greece and he reported on the conditions in the Old
Country to a massed audience of Greek men. Senator King delivered
KLV VSHHFK ZLWKRXW QRWHV RU DSSDUHQW H൵RUW IRU SUREDEO\ D KDOI KRXU +LV
HQWLUH VSHHFK ZDV GHOLYHUHG LQ ÀXHQW *UHHN 6KRZ PH D FXUUHQW SROLWL-
cian who could duplicate that feat!
0\ EURWKHU *RUGRQ KDG EHHQ WKH ¿UVW IXOO WHUP 0D\RU RI /DID\-
ette after its incorporation. He served four years on the council and I re-
VSHFWHG WKH IDFW WKDW KH WRRN RQH GD\ SHU ZHHN R൵ KLV SURIHVVLRQDO SUDF-
249

