> You're talking about securities that are beating inflation. I said no such thing...? > iff your security is worth fewer dollars than it was worth some perio

> You're talking about securities that are beating inflation. I said no such thing...? > iff your security is worth fewer dollars than it was worth some period of time ago, it is losing money. And if it sells for more dollars than in the past, but not commensurate with the decline in value of those dollars, then you've still lost money. Less money lost than would have been by holding dollars, but still a loss.