The Emperor’s New Clothes

Investment Strategies That Help Keep You Covered

Saly A. Glassman

“The emperor has no clothes!”

Who among us wouldn’t melt with humiliation if we found ourselves without warning caught naked in the streets? If you remember the story of “The Emperor’s New Clothes,” that’s exactly what happened to one foolhardy king.

There once was an emperor so totally obsessed with his appearance, namely, his clothing, that he completely neglected the governance of his kingdom. He had a magnificent vestment for every hour of the day and an enormous closet filled with exotic fabrics and designs. He spent hours in his dressing room, admiring his collection, as well as his reflection.

One day, two rogues came to town and soon recognized ...

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