“No matter what sort of story it was, she made it special. Her voice, her timing, her pacing were all flawless. She captured her listener’s attention, tantalized him, drove him to ponder and speculate, and then, in the end, gave him precisely what he’d been seeking.”—Scheherazade by Haruki Murakami
Young people are going about investing all wrong. The most basic (and important) decision you make as an investor is your allocation between major asset classes—primarily stocks, bonds, and cash. Here is how millennials’ portfolios look in 2014, according to a recent research report from UBS.
“They took to silence. They touched each other without comment and without progression. A hand on a hand, a clothed arm, resting on an arm. An ankle overlapping an ankle, as they sat on a beach, and not removed.”—A S Byatt, from Possession
“To be bitter is to attribute intent and personality to the formless, infinite, unchanging and unchangeable void. We drift on a chartless, resistless sea. Let us sing when we can, and forget the rest.”—H P Lovecraft