For decades, Wall Street wouldn’t shut up about the only blueprint for building wealth: Put 60% of your money in stocks, 40% in bonds. Then just sit back and enjoy the magic of diversification.
Once upon a time, university endowments were a total snooze. They loaded up on US stocks and government bonds, punched out a modest 5% or 6% return, and called it a day.
In the old days, if you’d told me you’d invested in a startup, I’d have asked the obvious question: “When do you think it’ll IPO?” That was the dream. The startup would grow, go public, and your small investment could turn into a big sum.
A few years ago, a buddy of mine from business school invited me to a fancy dinner at his Manhattan brownstone. By the time I finished my first glass of Champagne, I’d met most of the guests — a mix of money managers, venture capitalists, and private equity heavyweights.
When it comes to making money for my readers — or saving them from losses — I love being able to say, “I told you so!” Back on June 17 th , I told Crowdability readers to sit out the SpaceX IPO frenzy.