Wall Street Is a Lousy Bet

I doubt that ''Investing is not a sport'' (Editorials, Dec. 28) will dramatically influence those investors with the current ''obsession with the markets' daily ups and downs'' that you noted. Unfortunately, only some unknown or unpredictable events will likely change the psychology that pervades Wall Street right now. But congratulations for bringing the issue to light. Equities are, indeed, a good long-term investment, but short-term thinking and ''playing'' the market has become the norm for many investors. Let's hope the rest of the media follow your lead in encouraging investors to focus their investing on the longer term and their passions on other worthwhile activities.

Mark L. Aaron
New York

Updated Jan. 7, 1999 by bwwebmaster
Copyright 1999, Bloomberg L.P.
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