<THE FOOLISH FOUR>

Foolish Four Report
by Robert Sheard

LEXINGTON, KY. (Feb. 2, 1998) -- While I was inhaling my lunch today, I caught a few minutes of an interview CNBC's Bill Griffeth did with a woman named Judy Resnick, author of I've Been Rich, I've Been Poor, Rich Is Better. While I only caught part of the interview, her story seemed so exemplary of the kind of independence we counsel here at the Motley Fool that I have to share what I can from her tale.

Years ago, when Ms. Resnick's father died, she assumed she was inheriting a great deal of money, only to find out that his love of Las Vegas left her anywhere but on Easy Street. Then in short order, she also lost her mother and sister in a plane accident.

Not knowing anything about managing money and still trying to get used to her first time in the job market without any family support system, she turned over the settlement money she had received to a broker, who proceeded to gamble away some $50,000 on stock options.

Sound all too painfully familiar? At this point Ms. Resnick got Foolish. She decided she'd learn about investing for herself, even going so far as becoming a broker. She quickly learned that what training she received as a broker was only geared towards making her a better sales representative, not a better investor. So she continued studying by reading books, talking with the analysts and teaching herself. (If only the Fool had been available when she began.)

The point, of course, is that while she had to take a painful and expensive route to learn how to manage her own finances, she ultimately succeeded by taking responsibility for her own decisions and learning whatever she needed to do a better job than the pro she had hired in the first place.

That's precisely the message we hope our readers take away from all our content. Take charge of your own money, make you own well-informed decisions, and reap the benefits. Sure, we're here to help with information, strategy guidance, shared viewpoints, and the like. But the real test of Folly is when the investor says to himself or herself, Yes, I can do this on my own now and can do it well.

I haven't seen Judy Resnick's book yet, but I'm planning to read it. I wish her much success and I'll be supporting her message by picking up a copy of the book. While she may not be a card-carrying Fool, she nevertheless belongs in a Motley Hall of Fame. And on a day like today, with the stock market soaring, it seems a fitting time to celebrate such a success story. Fool on!

[Still confused about the changes to the Foolish Four? Visit our special collection which explains why the Fools have modified our beloved Dow Approach.]

[Want to be the first Fool on your block to get a copy of Robert Sheard's forthcoming book? Click here to pre-order your copy of The Unemotional Investor.]

TODAY'S NUMBERS
Stock  Change   Last 
 -------------------- 
 UK   +1  1/8   44.94 
 IP   +1 15/16  47.63 
 MO   +1  1/16  42.56 
 EK   +   1/8   65.38 
 
            
                    Day   Month    Year 
         FOOL-4   +2.37%   4.26%   4.26% 
         DJIA     +2.55%   2.52%   2.52% 
         S&P 500  +2.14%   3.18%   3.18% 
         NASDAQ   +2.07%   5.25%   5.25% 
  
     Rec'd   #  Security     In At       Now    Change 
  
  12/31/97  289 Int'l Pape    43.13     47.63    10.43% 
  12/31/97  206 Eastman Ko    60.56     65.38     7.95% 
  12/31/97  291 Union Carb    42.94     44.94     4.66% 
  12/31/97  276 Philip Mor    45.25     42.56    -5.94% 
  
  
     Rec'd   #  Security     In At     Value    Change 
  
  12/31/97  289 Int'l Pape 12463.13  13763.63  $1300.50 
  12/31/97  206 Eastman Ko 12475.88  13467.25   $991.38 
  12/31/97  291 Union Carb 12494.81  13076.81   $582.00 
  12/31/97  276 Philip Mor 12489.00  11747.25  -$741.75 
  
  
                              CASH     $77.19 
                             TOTAL  $52132.13