These terms have been updated to fit today's times:

CEO: chief embezzlement officer.

CFO: corporate fraud officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST! -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW -- The movement your money makes as it disappears down the toilet.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

MOMENTUM INVESTING - The fine art of buying high and selling low.

VALUE INVESTING - The art of buying low and selling lower.

"BUY, BUY" - A flight attendant making market recommendations as you step off the plane.

FINANCIAL PLANNER - A guy who actually remembers his wallet when he runs to the 7-11 for toilet paper and cigarettes.

CALL OPTION - Something people used to do with a telephone in ancient times before e-mail.

YAHOO - What you yell after selling all you owned to some poor sucker for $240 per share.

WINDOWS 2000 - What you jump out of when you're the sucker that bought Yahoo for $240 per share.

INSTITUTIONAL INVESTOR - Past year investor who's now locked up in a nut house.

PROFIT -- an archaic word no longer in use.

PROFIT - Religious guy who talks to God.

BILL GATES - Where God goes for a loan.

ALAN GREENSPAN - God.

Cows: With a Twist

DEMOCRAT: You have two cows. Your neighbor has none. You feel guilty for being successful. You vote people into office that put a tax on your cows, forcing you to sell one to raise money to pay the tax. The people you voted for then take the tax money, buy a cow and give it to your neighbor. You feel righteous. Barbara Streisand sings for you.

REPUBLICAN: You have two cows. Your neighbor has none. So? ......It's not your fault he didn't stay in school. Never-the-less, ultimately you take pity on your neighbor and see that his children have milk, while you encourage him to accept responsibility for his situation and to work
hard to acquire his own cows.

SOCIALIST: You have two cows. The government takes one and gives it to your neighbor. You form a cooperative to tell him how to manage his cow.

COMMUNIST: You have two cows. The government seizes both and provides you with milk. You wait in line for hours to get it. It is expensive and sour.

CAPITALISM, AMERICAN STYLE: You have two cows. You sell one, buy a bull, and build a herd of cows.

DEMOCRACY, AMERICAN STYLE: You have two cows. The government taxes you to the point you have to sell both to support a man in a foreign country who has only one cow, which was a gift from your government.

BUREAUCRACY, AMERICAN STYLE: You have two cows. The government takes them both, shoots one, milks the other, pays you for the milk, and then pours the milk down the drain.

AMERICAN CORPORATION: You have two cows. You sell one, lease it back to yourself and do an IPO on the second one. You force the 2 cows to produce the milk of four cows. You are surprised when one cow drops dead. You spin an announcement to the analysts stating you have
downsized and are reducing expenses. Your stock goes up.

FRENCH CORPORATION: You have two cows. You go on strike because you want three cows. You go to lunch. Life is good.

JAPANESE CORPORATION: You have two cows. You redesign them so they are one-tenth the size of an ordinary cow and produce twenty times the milk. They learn to travel on unbelievably crowded trains. Most are at the top of their class at cow school.

GERMAN CORPORATION: You have two cows. You reengineer them so they are all blond, drink lots of beer, give excellent quality milk, and run a hundred miles an hour. Unfortunately, they also demand 13 weeks of vacation per year.

ITALIAN CORPORATION: You have two cows but you don't know where they are. While ambling around, you see a beautiful woman. You break for lunch. Life is good.

RUSSIAN CORPORATION: You have two cows. You have some vodka. You count them and learn you have five cows. You have some more vodka. You count them again and learn you have 42 cows. You count them again and learn you have 12 cows. You stop counting cows and open another bottle of vodka. The Mafia shows up and takes over how ever many cows you really
have.

POLISH CORPORATION: You have two bulls. Employees are regularly maimed and killed attempting to milk them.

FLORIDA CORPORATION: You have a black cow and a brown cow. Everyone votes for the best looking one. Some of the people who like the brown one best vote for the black one. Some people vote for both. Some people vote for neither. Some people can't figure out how to vote at all. Finally, a bunch of guys from out-of-state tell you which is the best-looking one.

NEW YORK CORPORATION: You have fifteen million cows. You have to choose which one will be the leader of the herd, so you pick some fat cow from Arkansas.

Investment Advice (Old, but perhaps still valuable)

If you had bought $1,000.00 worth of Nortel stock one year ago, it would now be worth $49.00.

With Enron, you would have $16.50 of the original $1,000.00.

With Worldcom, you would have less than $5.00 left.

If you had bought $1,000.00 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer, then turned in the cans for the 5 cent deposit, you would have $107.00.

Based on the above, my current investment advice is to drink heavily and recycle.