"Whereas yesterday’s brokers were principally concerned
with keeping money in motion and generating activity each month, today’s
brokers – who call themselves wealth managers by the way – are principally
concerned with making client retirement accounts stretch out over decades.
Stocks are increasingly the answer to this puzzle. Bonds, with their fixed rate
of income, by
definition cannot get the job done. This means a bias
toward buying equities everyday and almost never selling. It means adding to
stocks sheepishly on up days and voraciously on the (rarely occurring) down
ones.
In short, it means a
relentless bid as the
torrent of assets comes flowing in every day, week and month of the year."
(Znalezione
na profilu Rafała Hirscha.)
