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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Aug. 7, 2000)
Monday. AugusUi b world poraril mday, August 7, 2000 ted Egypt (AP) — The A ?ver been unified onPii - Yasser Arafat's peaa ;ion where some com: as a trade and tourismp rs despise it as anenm lel and the Palestinians* »rt out what to do - a delicate matter pat decade that requires and Muslim leaders ot Arafat's alone to mat Arab leaders are unit! t: East Jerusalem's tai o character and relieioi THE BATTALION )aytrade believer stablished stock traders mistaken in criticism of Internet users’ strategy D ver the past five years, a revolu tion has oc- irred in the securities nding industry. Trad- g stock online is as isy as lacing up a pair .» uidrctLiei dim mmi; • lo not allow foriMf shoes L In,cme,br<> uld put any ofitunderl r nty Al-Aqsa mosque tr )mrruss ' ons ' real-time quotes, detailed site in Islam, is )ld City — reason enonr Jerusalem's fate the b® o — on east he two-week July sumra: vid, Md., Arab leaif; iey expected the Palesfc ;tand firm on Jerusalem mg Arab unity wi irst, such unity has a 1» ig Arab nations. Seam iraeli pressure that hadb fat has broadened ire Arab world. Both ra ng to chip away at .’herever possible, ne Minister Ehud BaraJ erson to Egyptian Presi- rage houses offer low jialyses and other amenities that are mak- g conventional stock brokers obsolete. This advancement in investment tech- on Muslims worldwideJology is changing the way modern-day is the Arab leaders'll usinessmen and -women perceive the will find it virtually in rad to success. With such easy access to de any ground — even: re markets, the playing field has been lev- . A college drop-out with a knack for re markets is as good as an Ivy League raduate with a finance degree. The only dvantage one could have over the other is aeamount of initial investment one could urinel into the market. The main reason be- ind this advance is the relative simplicity f the recipe for success in the markets. Buy ow,sell high. Due to the ease of trading stock, the lumber of Americans investing in the mar- :etshas more than tripled in the past five ears. Many "old school" investors are rowning upon the influx of all this "new ubarak last week to lead noney." They claim that many new in- itive to soften the Pales- ion on east Jerusalem, n minister said flatly and i simply not his country's e fora change that is not of Arabs and Muslims, alker, the U.S. State De- p Middle East expert,is ab countries. As he has Jordan and Saudi Ara- if each have reiterated ness on the issue of east estors are going into the markets like they ivould go into a casino: with no particular )lan. They criticize new investors for doing more than gambling with stocks, buy- ngand selling on rumors. University of Cal- ifomia-Davis finance professors Terrance Mean and Brad Barber examined the per formance of the discount brokerage ac counts of more than 60,000 households from February 1991 through December 1998. Odean and Barber separated investors into five groups based on their annual portfolio turnover. After reviewing returns of all the households, the professors found that the in vestors with the highest trading levels had the lowest returns. Odean and Barber's ex planation was that the most active traders base their decisions on day-to-day trends in the market and not on significant news af fecting their investments' futures. However, the study is flawed and outdated. The trial period en compassed the preliminary matu ration of individual investing. The technology and information avail able to the investor in 1993 pales in comparison with the arsenal that today's trader can utilize. The study is an attempt to support what these professors consider to be the best way to trade. They advocate the "buy and hold" ideology that often involves big blue-chip companies' stock, which tends to show consistent annual, albeit minimal, returns. That strategy is only one amongst a dozen that can be used to play today's markets. There is a continuous head butting match going on between the older, more passive investors and today's aggressive, online investors. Optimism vs. caution. The bulls vs. the bears. The strategies employed by investors are as diverse as the investors themselves. There is no sure route to success in the markets. If someone is making money, then he or she is doing a good job. Advice on trading strate gies is idle breath unless it comes from someone who is sitting on a portfolio worth a sm^ll fortune. In the words of Gordon Gecko, the infa mous market tycoon from the movie Wall Street, "Listen here, kid, the market is a ghetto. If you want to stay up all night look ing at charts and graphs, that's fine. You just make damn sure that whatever you're do ing, you're making us both a wheelbarrow full of money." Luke McMahan is a senior industrial engineering major. J ■“jp, JEFF SMITH/Thh Battai ion ■Saudi Arabia, guardian est sites in Islam, or Jor- nal overseer of east uic sites, were to accept s than full Palestinian le rest of the Arab world ? likely to go along, ia, Jordan and Egypt all allies that have taken a in helping to negotiate ?ace and could be capa- ; Arab opinion. If the collapse, they would be st likely to seek ways to ordan's King Abdullah :ed he wants to carry on ng legacy of his father, loth Israel and the Pales- irned for help at tough cess to Mubarak, whose s more U.S. aid than any except Israel, and privately, officials juntries insist no shift is ie Saudi official put it Thing is open fornego :ept Arab sovereignly salem." ig in India 40 lives GOP protests show political concern, worthy of praise L ast week, protests accompanied the Republican National Convention in Philadelphia. Among the- protests was the Unity 2000 rally, where an esti mated 5,000 demonstrators listened to inspirational speakers and marched through downtown Philadel phia. Critics of the protest complained that these dis senters garner too much media attention and inspire civil unrest. However, these nonconformists incite Americans to abandon apathy toward politics and gov ernment. Such actions as peaceful protests promote civil activism and the idea of civic responsibility. Protests at national political party conventions re mind people of the 1968 Chicago incident. In 1968, the Democratic National Convention was held while 12,000 police and Illinois National Guardsmen gath ered outside. The police officers, National Guardsmen ;and additional federal troops prepared for 1,000 pro testers, but between 6,000 and 7,000 actually arrived. Clashes between protesters and riot personnel fol lowed, and many were televised for the entire nation to see. These on-air scuffles scarred the image of demon strations at national conventions. America needs to let those scars heal and realize that the protests in Philadelphia are positive. Too many Americans think they cannot do anything to 1 change the government, or conversely, that the govern ment does not affect them. These beliefs are false. By voicing their opinions to government officials at Viewpoints party conventions, Americans can change the direc tion of the country. Instead of sitting at home and complaining to their friends, Americans need to do something. The lack of civic responsibility is more evi dent today than it has been in the past,as demon strated by low voter turnout and the little interest in the coming presidential election. Despite memories of 1968, protesting is nbt wrong. What is wrong is the violence that sometimes occurs between protesters and those protecting the citizens. Mohandas K. Ghandi and Martin Luther King Jr. both advocated peaceful protests. Their beliefs are as im portant today as they were 40 years ago. Demonstra tions like the one in Philadelphia should be praised for encouraging civil activism and a concern for what hap pens to this country without causing violence like Americans witnessed in 1968. — Brieanne Porter Criticism of Philip Morris fails to recognize other efforts P hilip Morris, the largest tobacco company in the nation, recently lost a $73.96 billion lawsuit. While criticizing Philip Morris, people often ne glect to notice that Philip Morris is not just a big to bacco company. Maxwell House coffee, Kraft cheese, Nabisco cookies, Oscar Mayer meat and Jell-0 are all Philip Morris products. Not only is Philip Morris in volved in the food industry, but it also was one of the largest corporate contributors, with annual charitable contributions of more than $60 million in 1998. Many people believe Philip Morris deserves to be sued for all the damage it caused smokers. It has so much money it can afford to pay $74 billion. If Philip Morris raises the prices of its cigarettes to recoup losses, as many people expect it to, it would do so without taking mon ey away from its partnerships. The company gives money to the American Red Cross, the United Way of America, the National Meals on Wheels Foundation and St. John’s Bread & Life Soup Kitchen. Philip Morris also shows concern for the envi ronment by contributing to Keep America Beautiful. The company also donates to education programs such as the Thurgood Marshall Fund and, since 1956, the United Negro College Fund. Philip Morris has worked with the National Network to End Domestic Violence Fund, the American Ballet Theatre and the National AIDS Fund.Crit ics who focus only on Philip Morris’ recent tobacco trou ble should broaden their attention and realize how much Philip Morris does for the country. The price people pay for cigarettes also contributes the millions Philip Morris contributes to charities. For more than four decades, Philip Morris has in vested in making a positive difference in people’s lives. As the company’s Website notes, when natural disasters strike, “Kraft provides food, Miller provides bottled water, Philip Morris Companies Inc. provides cash grants and support, and Philip Morris U.S.A. pro vides volunteers.” Philip Morris has many faces, and many of them bring peace, comfort and assistance to the entire nation. — Cay I a Carr Page 5 Privacy worries unwarranted T hey know who you are. They know where you live. Most of all, they know how you shop. So what? Political types keep saying the term "information age" as if it were "whaaaazaaaap." Digital information about every man, woman, child, pet and parameci- um is being bought, sold and gathered on a constant basis. And that is fine. Others also seem fine with this trend and gladly let themselves be tracked and mar keted to in exchange for a grocery discount card or free Internet access. Wait — you mean you thought the grocery card had no strings attached? And you would rather not see those stream ing advertisement banners? Are you dense? Free can get pretty expensive. As long as someone else foots the bill for those 22-minute sitcoms by filling the other eight minutes with shampoo and SUV ads, I am content — that is 22 more minutes of entertainment than I would have gotten otherwise. Advertising is more than a necessary evil; it is just plain "nec essary" to keep the economy swimming along. If you do not like this, there is a remote cabin in Montana with your name on it. Skip the mail bombs, though, it has been done. The real problem with this endlessly growing electronic cesspool of information is that people are taking it way too personally. Statistical data is just that — statistics. Open information can be dangerous in the hands of the wrong people, but a lack of research on, information about and re sponsiveness to the changing needs of the public is a far more dangerous thing. As a former telephone interviewer for a va riety of surveys, I never understood why so many people refused to respond. As a sensi tive, trained, mature professional, I did not give a monkey's behind about the people of whom I was asking personal questions. The computer I typed the answers into only got ages, genders and education levels, and turned those thousands of different peoples' answers into a stack of understandable percentages. Why the fuss over lost privacy, then? When those annoying advertisement ban ners have learned people's tastes and begun to tailor themselves to what they think the user would most like to see, it saves the viewer's and the advertiser's time. Most people are not delusional about how important their privacy is — they know they are just a statistic; adver tisement agencies know people are faceless sources of disposable income. It is a bloodsucking symbiosis, and as Martha Stewart might say on one of her com mercials, "It's a good thing." The powers that know recently gave me an opportunity I have been waiting for since I was 5 years old. They let me be the representation of my demo graphic, and asked me to journal my TV view ing habits for a week. Bwa-ha-ha-ha-ha! Bye- bye, Regis. Hellloooo, "A-Team" reruns. I considered it my patriotic duty to watch TV that week, and hope the information I gave up willingly will net tangible results. Die, Regis, die. Take Buffy and Ally and Xena and Dawson with you. Was giving up both my privacy and time worth making my voice heard? Unquestion- ’ably. Should you now feel the same way about the info-gatherers? You do not have to, but I sure hope you like the A-Team. Monica Arjev is a columnist for the Daily Kent Stater at Kent State U. T, India (AP) od waters of the naputra River sub orn es of more than ople, drowning at them in India's east, a government unday. 15 people died ot dysentery and stern and northern m state in the past the flood-hit vil- •vernment health fficial said, e persons, includ- en, were drowned ng the toll in floods es over the past am to 40," the state : flood control lid in a statement. I air # force heli-, ? dropped food, ^ d tents to hun-, )ple stranded on 1 ? Thursday. Many ; to trees and tele- said S. Madhok, commander, h 1 miles west of Jtate capital. ^r Unsanctioned bonfire bad for student body I In response to Eric Dickens' Aug. 3 column. I am a recent graduate and I am see ing something I thought I would never see in my lifetime — Aggies against Aggies jwhen it comes to the topic of bonfire. I see the student body clashing with the administration over the topic of an off- campus bonfire for the upcoming fall se mester. President Bowen has issued the order that bonfire will not burn on campus until 2002, and this is the order that must be followed. I think that all the work that the Keep the Fire Burning organization is do ing to have an off-campus bonfire should be shifted toward the memorial service to remember our 12 fallen friends. Students need to work with the ad ministration to make bonfire in the future the best that it can be, and show the world that Aggies never quit. If an acci dent happens during an off-campus bon fire construction, the damage would be unrecoverable. Bonfire would never be allowed to hap pen again, and this would truly be a tragedy. We cannot rush into this, Aggies. We need to take our time and do this right and not make any decision that would discredit our great University. I have heard many people say that burning bon fire next fall will be the only way to finally close the wounds from last year’s tragedy. I do not think an off-campus bon fire will help this. Bonfire needs to be where it belongs and that is on the cam pus of Texas A&M University for the .entire world to see. Aggies, we need to take our time and make sure we do this right. Scott McCrosky Class of '98 Keep the Fire Burning suffers from hubris I agree with Dickens in his appraisal of the motivation of Keep the Fire Burning's board. It is a good thing that someone is calling them out before even more dam age is done to the tradition and to the student body. Mail Call It is obvious that Keep the Fire Burning believes that it knows better than the ad ministration, the same administration that hired experts in the field to deter mine the problem before even consider ing a solution. Keep the Fire Burning had its solution - build and burn bonfire no matter what - before even the experts had determined the problem. Student hubris has already brought enough problems to this University. Adding to them is not the solution. Chris Huffines Class of ’00 Bonfire column makes incorrect assumptions It seems to me that Dickens assumes a great deal about Keep the Fire Burning and its reasoning. First, using the term "mockery," al though passionate and reeks of journalis tic enthusiasm is a bit extreme. How can this group make a "mockery" of a tradi tion stemming from a bunch of drunk Ag gies riding around the county stealing out houses to burn while they get drunk? Also, for some reason, Dickens has chosen to accept what Dr. Ray M. Bowen says as the final word. Every time period can always be extended, and if Dickens, or anyone else for that matter, believes that A&M wants bonfire to continue, they should read between the lines very care fully. Students built bonfire successfully for scores of years, year after year, not every two years. Dickens assumes that having an off- campus bonfire will undermine a student- coordinated memorial, which will also oc cur in November. He also assumes that just because Bowen “expects” this memorial event, that it will come to fruition. Dickens assumes that “dorm rivalries, yells and ‘grading pots’” will not be a part of Keep the Fire Burning. Why does he think this? How can he arbitrarily say what will and will not be part of bonfire? Dickens seems to believe that if bonfire is not "University-sanctioned," it ceases to be bonfire, and what is worse, he thinks that these Aggies of Keep the Fire Burning are motivated by defiance. When bonfire started, it was not Univer sity sanctioned. Was it any less bonfire, then? I put it to you, Eric; These passion ate Aggies are not motivated by defiance, but a heart-felt duty to honor and respect the friends and fellow students who fell in last year’s tragedy, and to not be swayed by the dictatorial threats of an oppressive A&M establishment. t Paul D. Burger Class of ’00 The Battalion encourages letters to the editor. Letters must be 300 words or less and include the author’s name, class and phone number. The opinion editor reserves the right to edit letters for length, style and accuracy. Letters may be submitted in person at 014 Reed Mc Donald with a valid student ID. Letters may also be mailed to: The Battalion - Mail Call 014 Reed McDonald Texas A&M University College Station, TX 77843-1111 Campus Mail: 1111 Fax: (409) 845-2647 E-mail: battletters@hotmail.com