Stupidity

A follow up to my post from yesterday on FUD here.

Today Tom Lydon wrote: Why Leveraged ETFs Aren’t For Everyone here

I think he hit the nail dead on the head.

So why is this post about stupidity?

Let me tell you a true story.

I came to the states with my family on April 27, 1975, 3 days before the fall of Saigon. A very generous family invited our family to spend Thanksgiving with them. Some how, I had heard the word stupid, but did know know what it means. Well at dinner, I was calling the host's son stupid over and over again. Lucky for me, he was gracious. Looking back, I felt stupid because I was using a word I did not know or understand the meaning.

The moral of the story, don't listen to every thing you hear, but learn for yourself.