Re: Is the fall & rise of the stock market a legal way of transferring wealth to the rich?

[David Farber <dave () farber net>]

Begin forwarded message:

From: "Ted Kircher" <tkircher () comcast net>
Date: September 8, 2009 8:57:05 AM EDT
To: "David Farber" <dave () farber net>
Cc: "Tony Lauck" <tlauck () madriver com>
Subject: Is the fall & rise of the stock market a legal way of  
transferring wealth to the rich?
Reply-To: "Ted Kircher" <tkircher () comcast net>

Dave,

Although Tony Lauck states that "Predicting the future course of  
markets is logically impossible",
doesn't a very rich guy, who can hire million dollar analysts, have a  
MUCH better chance
(opportunity!) than the average middle class guy of predicting when  
any given stock will most
likely rise and fall?  This is sort of like a player in a professional  
sport competing against a high
school player!  Hence even if, in the short run, a rich guy loses more  
dollars, he still has the financial
resources to better predict and buy at the low point hence winds up  
with a larger amount of shares
- and hence more wealth - when the market recovers.

If this is true, more frequent and larger magnitude market swings  
legally increase the financial gains
of the wealthy.

Ted


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