Equity is powerless without you

This is the last part in our trilogy. You can read parts 1 and 2, here and here. If you want to get rich, there is no way you can do that without owning equities. But can equities alone get you rich? Nick Murray, in his book, 'Simple Wealth, Inevitable Wealth' writes - Equities cannot do it without you. Many investors used to walk into the AMC offices when there was exuberance in the stock markets. When we spoke of the risks and the need to assess asset allocation, I would hear, "Madam, no pain - no gain." They would invest all that they had. What triggered this behaviour? Obviously, the ease with which the friend or neighbour was getting rich effortlessly. They claimed that they understood the risks and were long-term investors. A

This article was originally published on August 11, 2023.