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Dear Mr. Berko: I have three questions.

First, because our economy is in the process of strong economic and social changes due to our financial mistakes, what professions would you recommend for a young man (my grandson) who wants to make big money? His father made big money as a heart surgeon, his uncle made a lot of money owning a chain of retail stores, another uncle made a lot of money with a successful Cadillac dealership and I made a small fortune in real estate development. These businesses are no longer as profitable as they used to be, so could you recommend a profession (perhaps being a money manager) in which my grandson has a good chance of making a lot of money?

Second, after watching President Obama for all these months, I would like to know your opinions of him.
Third, in April, you answered a letter from H.B. in Bend, Ore., about 20 stocks that you recommended. Each of those 20 stocks is up at least 35 percent, and many are much higher. Can you publish another list of 20 stocks that will do as well as the last list? Your last 20 recommendations were 100 percent amazing. How do you do it?

D.K.
Troy, Mich.

Dear D.K.: Thanks for the kind compliment, but I have to tell you that even a blind hog can find an acorn once in a while.

My mail for the months of June and July overflowed with requests for a repeat performance. And my response is: 鈥淚t鈥檚 dangerous to ascribe long-term consequences to short-term events.鈥� But I confess that I had a lot of help with this 鈥渓ist of 20,鈥� and credit two of my friends, 鈥淪tinky鈥� Candola and Jesus Greenberg, for their research work. And when I think the time is right, I鈥檒l publish another list for you to chew on.

With the federal government becoming an increasingly dominant participant in our economy, earning big money as a business person is almost impossible unless you invent something like instant prime rib, powdered water, a pill to cure stupidity, or a particle-wave beam that instantly melts every corporate phone system telling you to 鈥減ress 1 or press 2 or …鈥� However, veterinarians (and they don鈥檛 have to be good) make more money today than medical doctors did in their heydays. I know several vets who earn more than $1 million per year, and their patients never sue. However, being a vet requires a lot of hard work.

If the kid wants to earn really big money, he should become a member of Congress or his state legislature, which doesn鈥檛 require much work. I鈥檝e kept a living list of federal and state politicians (in my Rolodex) whom I鈥檝e gotten to know for one reason or another since I began writing this column in 1978. That list is 137 names long 鈥� some are still serving and some are retired. I鈥檝e known most of these people for many years when they didn鈥檛 have much money, yet with the exception of just a few names, each has a net worth substantial enough to make you pout. Making money is as simple as a walk in the park because you are one of the 545 most powerful people in the world. If you鈥檙e a state legislator, you are one of the most powerful people in your state.

Steer the kid toward politics. You and your sons should have enough money to buy him a seat.

I think Obama is attractive, intellectual and charming. His political skills are a combination of most things voters admired about Ronald Reagan and Bill Clinton. He covets power, and his three main goals are to control energy, health care and public education. But I鈥檓 concerned about Obama鈥檚 influence on our social and economic landscape.

I鈥檓 reminded of a comment made by American Socialist Norman Thomas, a six-time candidate for president:

鈥淯nder the name of liberalism the American people will adopt every fragment of the socialist program.鈥�

And then I鈥檓 reminded of a comment made by Reagan: 鈥淥ne of the traditional methods of imposing socialism on people has been by way of medicine. It鈥檚 very easy to describe a medical program as a humanitarian project.鈥�

And Thomas Jefferson and Gerald Ford reminded us that 鈥渁 government big enough to give you everything you want is also big enough to take away everything you have.鈥�

Address your financial questions to Malcolm Berko, c/o The Daily Journal of Commerce, P.O. Box 8303, Largo, FL 33775, or e-mail him at [email protected].
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