Zvi Bodie on the Flaws in Conventional Investment Advice
Boston University economist Zvi Bodie is as candid as ever in a recent interview published in Money Magazine. Bodie believes that the vast majority of consumers have been deceived by conventional financial advice: The standard models that are used to give investment advice to millions of Americans are fundamentally wrong. We're told that over time, stocks get less risky, but that's bull. Stocks are always risky -- whether in the short or long run. Prices dropped by 37% last year. While...
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