I thank my fortune for it,
My ventures are not in one vessel trusted,
Nor to one place; nor is my whole estate
Upon the fortune of this present year.
—ANTONIO, The Merchant of Venice, ACT I, SCENE 1
Most people think investing means stocks and bonds. We’ve been indoctrinated that way. After all, no news broadcast since childhood has been complete without a recap and explanation of Mr. Dow Jones’s day, as normal as hearing about our family’s trials and tribulations over dinner. He’s one of us.
Well, yes he is. But just one. Other asset classes, like private equity and venture capital, have dramatically outperformed stocks for many years now (of course, it wasn’t actually all that hard, but still . . . ). ...