A recent article by Mark Hulbert (MarketWatch) attracted my attention for two reasons. One, it focused on Richard Russell, “the granddaddy of the investment advisory industry, having continuously published his Dow Theory Letters advisory service since 1958.” Two, it brings into focus the advisability of owning a large stock portfolio – the main investment method since the end of WWII.
Edited (for brevity) excerpts from Hulbert’s article:
Richard Russell made a remarkable confession earlier this week. He said that he finds the financial markets to be so inscrutable that trying to time them is close to futile. He decided to invest a good chunk of the accounts he manages in a mutual fund that has a static allocation to several uncorrelated asset classes.
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