Subject: Re: Target Maturity Funds (TMFs)
"Anyway, I started 'The Intelligent Investor', again, a few months ago, and, amazingly, all these years later, I understand it better.",

Elizabeth,

One of the reasons some books are called 'classics' is their 'depth' which allows increasingly fruitful re-readings. You'll find that to be the case with Wright's book as well. You'll have no trouble getting through it the first time and understanding her main points. But when you you re-read it a couple months later, you'll say in amazement, "Wow. That's a shrewd point that I missed the first time through, but now understand."

Yeah, snooty in-laws can be aggravating, especially them too dumb to realize that their present material advantages are more often due to sheer dumb luck rather than merit and hard work. (Nassim Taleb rips that crowd in his book, Fooled by Randomness.) Also, that crowd needs to be constantly 'one-upping' everyone else in the room, because their sense of self-worth is so fragile and it isn't based on anything substantial. Ignore 'em. Or, if you want to put them in their place, sit them down at a potter's wheel and tell 'em to turn a simple bowl. If they manage that --unlikely-- then tell them to turn a water jug with a spout and handle.

Regrettably, in much of "Modern Day America", money has become the only measure of worth, and things like honesty, decency, integrity, kindness, and empathy get discarded. So frame your financial goals carefully and modestly, so they are both achievable and consistent with your own values.

Charlie