I think that is what someone once told me. Unfortunately, that same someone was pushing gold as a good hedge. And we all know what happened to gold during the past decade. Thank you for passing along all the comments from the meeting. My favorite first book about investing is by Benjamin Graham, The Intelligent Investor .
Most libraries have it.
I also have a comment about a particular situation regarding IPOs that you might find interesting. I thought maybe I was incorrect in my understanding of the offering procedures until recently. The stock has not yet priced, but conditional offers are accepted a few days before pricing. This was around 5 p.m. on Dec. 13. I ate dinner and came back to the site around 7 p.m., and there was a message that they were not accepting any more conditional offers.