With the public offering complete, many people who had been essentially broke the month before found themselves bombarded by those willing to help them solve the problems created by their (largely paper) ``wealth''. I thought it would be a good idea to pen an introduction to the investment world for people who had ignored it before in the hope that at least the most egregious fleecers and slimebags would be seen through. Other than details about taxes, which are dated, I wouldn't change a word today.
By John Walker -- July 1, 1985
Fins to the left,
fins to the right,
and you're the only bait in town.
Jimmy Buffett, Fins
When you sold stock in the public offering and your name appeared in the prospectus, you committed an act not unlike pouring blood in the water before taking a swim in shark-infested waters.
Whatever your financial situation may be, to those who read the 40,000 copies of the prospectus we paid to print, you ``have money'', and can be expected to be pursued by those who want to ``help you manage it''.
I do not presume to suggest to anybody what they should do with the money they got from selling the stock. It's yours; you earned it. The only purpose of this note is to share some of my thinking about the question we now face: ``what to do with the money''. The thoughts herein are biased by my own financial situation and may be completely inapplicable to yours. I'd also like to share some words of warning about some of the predatory types who will soon begin to circle.
And of course, please assume that everything I tell you is totally wrong and ``do not take any action without consulting with your own financial advisors''.
Editor: John Walker