2026-10-26 02:05 UTC
My father is a wealth advisor, and a very good one who predicted 2008 in 2005. He's always advocated for a conservative approach to investing which has kept his clients unscathed through every major economic disaster in the US for the last 40 years. He has third generation clients.
He was describing the basics of his approach to me when I was eight years old. I asked him a little kid question: "What would happen if everybody did this?"
He just stared for a moment.
Replies (1)
-
@MaryAustinBooks@mstdn.social 2026-10-26 02:07
He was nonplussed because this kind of theoretical question wasn't what he spent his time on. He was so focused on real world scenarios, he hadn't given it any thought. "That's a really good question," he said. "I never thought about that. Uh, the market would certainly be a lot more stable." And that was my introduction to how mass stupidity drives a lot of market activity.