What I learned in 30 years of investing

John Rekenthaler's first fund investment has gone up 700% in 30 years, but will future returns on equities be so impressive?

John Rekenthaler 15 January, 2019 | 6:00PM

My 30-year Morningstar anniversary has arrived. It sparked reflection. Had I a time machine, what investment advice would I give my younger self?

Buying Apple (AAPL) stock in 1996 and shorting collateralised mortgage obligations in 2008 would have been useful tips. I will offer counsel that is more realistic: live during a stock bull market.

Bonds sometimes post high after-inflation gains. Even, on occasion, does cash. But among the major financial assets, only stocks have the potential to deliver performance that does more than preserve and modestly extend wealth. Stocks can create fortunes. Investing in equities, through a stock bull market, is an investment experience like no other.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Apple Inc383.68 USD0.25

About Author

John Rekenthaler

John Rekenthaler  John Rekenthaler is Vice President of Research for Morningstar.

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