daylatedollarshort
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 19, 2013
- Messages
- 9,358
I am treading on dangerous, heretical ground here, but to expand my point, from "Stop Acting Rich" by Thomas Stanley:
"Real safety is not a diversified stock portfolio....Many a millionaire has told me that true diversity has much to do with controlling one's investments; no one can control the stock market....Not at any time during the past 30 years have I found that the typical millionaire had more than 30 percent of his wealth invested in publicly traded stocks. More often it is in the low to mid-20 percent range. These percentages are consistent with those found in studies conducted by the Internal Revenue Service, which has the best dataset on millionaires in the world."
"Real safety is not a diversified stock portfolio....Many a millionaire has told me that true diversity has much to do with controlling one's investments; no one can control the stock market....Not at any time during the past 30 years have I found that the typical millionaire had more than 30 percent of his wealth invested in publicly traded stocks. More often it is in the low to mid-20 percent range. These percentages are consistent with those found in studies conducted by the Internal Revenue Service, which has the best dataset on millionaires in the world."
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