At last week's Morningstar Investment Conference, BlackRock CEO Larry Fink told a room full of journalists he's not confident 401(k) participants have what it takes to be long-term investors.
I'm paraphrasing, of course, but it seemed to be a common issue at that Chicago show. Investors, who've lately sunk funds into bonds, aren't doing themselves a favor as they neglect long-term implications for their portfolios, Fink says; what they should be turned on to are equities.
Our post-crash "skittishness" has left equities the "most under-invested asset class in the world," Fink said.
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