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Saturday, May 18, 2013 - 1:43 PM
From Business Insider:
One of Morgan Stanley's investment strategists, Gerard Minack, is retiring. Read more
... As a parting gift to clients, Minack wrote a two-page farewell note that contains the best investment advice you will likely ever receive.
What is this investment advice?
... Minack does not actually explicitly articulate this advice. Rather, he just demonstrates conclusively why any other investment strategy is idiotic.
- Don't try to pick stocks
- Don't try to time the market
- Just invest in a portfolio of low-cost, tax-efficient index funds
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