- As crazy as it sounds, one shouldn’t have everything in stocks.
- Perhaps the best counter option right now is short term bonds.
- We’ll discuss Graham’s take and apply a contemporary perspective on it.
Today, we’re going to continue our review of Benjamin Graham’s The Intelligent Investor with a discussion on the fourth chapter, General Portfolio Policy: The Defensive Investor.
Graham clearly differentiates between aggressive and defensive investors where an aggressive investor spends a lot of time on research while a defensive one enjoys life. No matter whether you’re aggressive or defensive, this chapter is crucial for this environment as being defensive might be the most aggressive thing one can do. More →