i don't think so, thats a good enough reason and tell you how high risk he can take lol.FunSave22 wrote: ↑Jul 26th, 2012 5:57 amYou need a better reason than that.
There's a huge difference between investing for 3 years and investing for 20 years. The length of time is going to have a large impact on your asset allocation and risk tolerance. So you need to figure out how long your are investing and that usually highly depends on why you are investing.
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If you haven't already, you'll probably find "Where Are The Customers' Yachts"? worth a read. The book was published in 1940 by Fred Schwed who worked in the investment industry from 1927 right through the Great Depression of the 30's. The book's quite humorous and you'll slowly realize that things aren't all that different in the investment field today. A quote from the book.
"An out-of-town visitor was being shown the wonders of the New York financial district. When the party arrived at the Battery, one of his guides indicated some handsome ships riding at anchor. He said, 'Look, those are the banker's and brokers' yachts. Where are the customers' yachts?' asked the naive visitor."
Here's an article about Bill Miller who recently retired as a mutual fund manager in the U.S. Click on the photo and you'll get to see a nice blow up picture of his yacht "Utopia".