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Go West, Young Investor…But Go Wisely: Intelligent Investing in an Unintelligent Landscape
By Advisor Perspectives
“Go West, young man” was advice popularized in the late 1800s by the American author and newspaper editor Horace Greeley in regards to America’s Westward Expansion.1 Greeley “saw the fertile farmland of the west as an ideal place for people willing to work hard for the opportunity to succeed.”2 Potential success, measured in terms of productive land to farm, luxurious furs to trap, and of course shiny gold to pan, enticed many Western settlers to take significant risks.
Investing requires bearing risk to reap rewards, but there is no definitive causal relationship here. Just because you might be willing to pack up your wagon and head off into the sunset doesn’t ensure you’ll be rewarded with wealth. Today investors should be particularly diligent in assessing risk before setting off on any journey.
Read more at Advisor Perspectives.