Reply to Do many households here have $15 M net worth or more?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Has anyone noticed that in DCUMlandia nobody has EVER picked a stock loser?!?

This place is magical. [/quote]

This.

I'm one of the PPs who is worth >$20M in our mid 40s (husband is in finance). He routinely is asked by friends which individual stocks they should invest in. His response? Index funds, index funds, index funds. His position is that he does it for a living and it's incredibly hard - you'd be a fool to risk your life savings on individual stock investing. Wanna play around and have fun? Go for it, but earmark a small amount for that and otherwise - index funds. He practices what he preaches, and our nest egg is invested accordingly.

Yet so many single stock winners here![/quote]

People gamble.  A lot of these gamblers have NW that fluctuates widely, and some lose a lot and end up at the level of regular UMC NW.  Some make it big and if smart take it out.  Depends.  I take all I read here with a grain of salt.  Stats point out that this NW is 1% of population.  People who are wealthy are in a bubble of those like them, so they are widely unaware how the rest of teh population lives.  It's a circle bias for most people who say this wealth is super common. [/quote]

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