Malkiel: Ignore Forecasts and Stick to Index Funds, Bitcoin Lacks Staying Power, Temper Return Expectations
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Ignore experts' S&P 500 and recession forecasts - they are useless for predicting markets or timing investments. Stick to index funds instead of trying and failing to pick winning stocks.
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Bitcoin is too volatile and lacks utility to be a useful currency. Malkiel dismissed it as mainly used for hiding things from government or ransomware.
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Stock valuations are high right now which likely means long-term returns will be more modest than historical 10% annual averages. Manage expectations.
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No one, including the Fed and economists, can reliably predict recessions so don't try.
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Regular savings and dollar-cost averaging into index funds can generate wonderful retirement portfolios even for modest income investors.