X-Message-Number: 1820
Date: 24 Feb 93 23:37:05 EST
From: MICHAEL RISKIN <>
Subject: CRYONICS: Reply to P. Metzger

      Probably much to your surprise, I am personally an investor in OTC
small-medium cap biotech equities. In fact, thats all I invest in. Even
you might find that investment strategy "gambling" . Your painting a
picture of me as "having an irrational fear of equities" or that my "head
is in the sand" was an irrational assumption  on your part. 
      If you are a professional investment counselor, your first duty is
to listen to the needs of your counselees. For example, it is well known
that older clients, dependent on current income, and intolerant of short
term losses often chose bonds over equities. Alcor is in a similiar
position where our current needs are income, combined with an unwillingnes
to place membership money in positions where nearer term losses of only
10% are possible, and unacceptable. 
      If you know of an investment that produces 7% annual income while
affording equity growth, with a substantial degree of capital safety let
us know about it. You indicated that US bonds were themself unsafe in that
they could be defaulted. I am not a professional researcher or financial
advisor....so could you advise me as to the last time the US government
failed to pay its bond indebtedness, and which bonds you believe we should
stay away from because of factual reasons to fear their safety?
      Michael

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