Years ago a friend used that title phrase referring to people who garner most of their knowledge from those Sunday news inserts that are filled with celebrity interviews, recipes, question and answer columns, and other mostly useless information, interspersed among ads for the latest Elvis doll, collectible plates, and custom bank checks.
I stole that phrase and have used it often, so it is a bit difficult for me to admit that indeed I, too, read the Sunday supplement, but only Marilyn vos Savant's column in Parade, generally filled with puzzles, logic problems, and science. This week the following question appeared:
"My wife and I have lost more than a third of our life savings in the stock we set aside for our retirement. How can our hard-earned dollars given to a company for a share of stock just disappear? Where is the money now?"
Her response was quite civil and educational. My response was
What the heck are you doing investing in the stock market if you have to ask that question? May I suggest this book?
My investment advice: Don't invest your life savings in anything you don't understand or are unwilling to do so.
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