“You have to get a little inflated or you’ll never get off the ground.”
Stocks are less risky than bonds.
I did not get that backward. You are used to hearing that stocks are riskier than bonds; I have assumed that stocks are riskier than bonds for so long that, even though I know it is not true, it is hard for me to think, say, or write that stocks are less risky than bonds.
Let’s get something straight before you read further: I did not say that investing in a one-year certificate of deposit or a U.S. Treasury bill is riskier than investing in a stock. I am not saying that you have a greater chance of losing money ...