Chapter 6. The Global Speed Trap: Diversifying to Ward Off Losses and Old Age
“If everybody minded their own business,” said the Duchess in a hoarse growl, “the world would go round a deal faster than it does.” | ||
| --LEWIS CARROLL, Alice's Adventures in Wonderland (1865) | ||
As the rich become more preoccupied with planning for their own life chances, given global complexity, the poor are apt to find it more difficult to find support.
Mark Twain said you should put all of your money in one basket and keep your eyes on that basket. But Twain was an unlucky speculator and lost in most of his impulsive investments. Wealthier folks are taught not to put all of their eggs into one basket. They diversify. This is a defensive strategy aimed at avoiding losses ...
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