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Whether it's the world's top hedge fund traders like Ray Dalio and Paul Tudor Jones or entrepreneurs like Salesforce founder Marc Benioff and Richard Branson of Virgin; without exception, these billionaire "insiders" look for opportunities that provide asymmetrical risk/reward.This is a fancy way of saying that the reward is drastically disproportionate to the risk.So instead of buying all the stocks individually, or trying to pick the next high-flying hotshot fund manager, you can diversify and own a piece of all 500 top stocks simply by investing in a low-cost index fund that tracks or mimics the index.One single investment buys you a piece of the strength of "American Capitalism." In a way, you are buying into the fact that over the past hundred years, the top tier companies have always shown incredible resilience.A fiduciary is a legal standard adopted by a relatively small but growing segment of independent financial professionals who have abandoned their big box firms, relinquished their broker status and made the decision to become a registered investment advisor.These professionals get paid for financial advice and, by law, must remove any potential conflicts of interest (or at a minimum disclose them) and put the client needs above their own.And guess how they recoup their cost to be on the list? So not only are you failing to get the best performing funds, but also you are typically paying higher fees for inferior performance.You want to make absolutely sure that your 401(k) has the lowest possible fees and low-cost index funds.
There is a "mortality expense," which according to Morningstar averages 1.34% per year, as well as administrative charges that can run somewhere between 0.10% and 0.50% per year. Many of the economists I met with are thrilled with the rising popularity of "longevity insurance" which is an annuity that requires a relatively small deposit today and will kick on later in life (say age 80), so that you don't have to worry about "living too long" and you can plan to make your money last for a set period of time. Are annuities the best thing since sliced bread or just a deal that is good for the insurance company and brokers selling them? It really depends on the type of annuity you own and the fees the insurance company will charge you.
"The goal of the nonprofessional should not be to pick winners — neither he nor his 'helpers' can do that — but should rather be to own a cross section of businesses that in aggregate are bound to do well.
A low-cost S&P 500 index fund will achieve this goal." From 1984 to 1998 — a full 15 years — only eight out of 200 fund managers beat the Vanguard 500 Index.
Now, you might be thinking, "Well that's great for investors who have millions or even billions just to 'throw around,' but how does that apply to me?
Surely it can't be possible for normal investors to have upside without the downside — to have a protection of principal with major upside potential." Think again.