Word: stockings
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While every worker can decide for himself, I would like to explain why I would divert payroll taxes into a PRA invested in stock index funds. The first is that over long periods, the stock market offers much higher returns for what I find an acceptably low risk. Jeremy Siegel, a finance professor at the University of Pennsylvania, has found that the broad stock market from 1802 through 2003 averaged a 6.8 percent annual real rate of return. While the markets fluctuate from year to year, over all 30-year holding periods since 1802, the lowest annual real return...
...happen), there will be many, many workers whose private accounts would under perform, costing them thousands in retirement. Social Security is meant to be a guaranteed retirement foundation for all retirees, not a slick investment scheme, where every senior on the wrong side of the stock market’s bell curve is left to starve on the street. That was the situation Social Security was designed to remedy, and privatization would break that promise...
...risk. Many individuals do not have the time, the sophistication, or the interest to manage private accounts, thus putting themselves in potential jeopardy. Private investments of any kind may lose money as well as make money. What goes up can always come down, as anyone who has watched the stock market in the last few years knows well. What if the market is down when the retiree needs the money in the private account? And what if it stays down? Most individual investors’ portfolios have still not returned to where they to where they were when...
...University—which must report its publicly-traded holdings quarterly in a 13-F filing to the Securities and Exchange commission—held 67,200 shares on the New York Stock Exchange as of Dec. 31, 2004, according to its most recent filing in February. That holding would be worth $4.4 million today...
Harvard may also own shares of PetroChina on the Hong Kong Stock Exchange, University President Lawrence H. Summers said at a Mather House study break last month. But the University is not required to disclose its Hong Kong holdings publicly...