CHAPTER 1WHO IS THE “AVERAGE”INVESTOR AND WHAT’SWITH THE HANDBASKET?
The “Average” Investor
Average stock market investors today may have wealth, but most are not wealthy. Most have a 401(k) account and maybe some savings to invest, and they are worried about retirement. And why not? They know that they may need much more money in retirement than they have needed to survive thus far.
Their safety nets—Social Security and Medicare—are in danger of being reduced as our government grapples with an ever-widening deficit. And another government deficitshrinker, monetary inflation, may halve the value of all dollars over the next 15 years.
Artificially low interest rates have kept the rates of no-risk investments such as Treasury bills and bank certificates ...
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