How much of your portfolio should be in stocks? It's one of investing's most important questions — and the standard answer is costing the average investor the equivalent of 2% of their lifetime consumption. Yale economists have finally built something better, and it fits in a spreadsheet.
When markets look expensive, valuation anxiety pushes investors to brace for a crash. But history suggests the real risk is quieter — long stretches of disappointing real returns that erode wealth slowly, without the dramatic fall investors expect.
Robin Powell
Feb 1010 min read
SUBSCRIBE
Simply provide your email address to receive our regular update.
