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Dines says buy Google; getting rich not a crime

2014-03-25 18:31 ET - In the News

James Dines, writing in a Feb. 28, 2014, issue of The Dines Letter, says buy Google Inc. at $1,215.18 (U.S.). This is the first time he has recommended the stock. He mentions Google only briefly, pointing out that it was one of the great performers in the bull market (2009 to 2013) because it sported a flawless uptrend. Elsewhere, the editor says the world is coming apart at its seams, geopolitically, militarily and spiritually. When the ultimate failure comes, he warns, socialists will blame capitalism, or at least the mysterious 1 per cent that the Pavlovs have trained the public to define as Wall Street bankers. Mr. Dines points out that this does not include actors, athletes and true creators of wealth, such as Steve Jobs, Jeff Bezos and Elon Musk. Getting rich is not a crime, says the editor, and the stark truth is that the 1 per cent are better than average in many areas, such as providing cell phones, overnight retail delivery and commercial space ventures. Equal opportunity is not equality; "It is absurd to assume that everybody is equal -- because all humans are magnificently different and the opposite would be less entertaining," he says.

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