Retiring Wall Street Strategist Gives Amazing Investment Advice Just Before He Quits

[thenews]

One of Morgan Stanley's investment strategists, Gerard Minack, is retiring.

This is a bummer. Minack's work was lucid and helpful.

But as a parting gift to clients, Minack wrote a two-page farewell note that contains the best investment advice you will likely ever receive.

What is this investment advice?

Don't try to pick stocks

Don't try to time the market

Just invest in a portfolio of low-cost, tax-efficient index funds

Now, before you go scrutinizing Minack's note to find these bullet points, let me be the first to say that Minack does not actually explicitly articulate this advice.

Rather, he just demonstrates conclusively why any other investment strategy is idiotic.

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