This top-ranked wealth manager for the ultrarich rarely trades stocks, even when the market is in turmoil. Here's why.

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Acclaimed wealth manager Brian Pfeifler of Morgan Stanley lays out what young investors can learn from his choice to rarely trade the stocks he buys.

Here is how Pfeifler, who manages $11.9 billion in assets, explains his the thinking behind his low-trade approach:Pfeifler, 51, says he finds that as his career his gone on, he's become far more patient and focused on the future. He wants to make the right call the first time, and says that in an ideal world, he might make even fewer moves.

If you're a younger investor or simply not wealthy, you might think Pfeifler's experience doesn't apply to your situation. But he disagrees, noting that if the stock market generates a 7% annual return — around its historic average — an investor in an index fund thatWhile it's always tempting to think about making dynamic trades that clobber the rest of the market — like getting in and getting out at exactly the right time — Pfeifler preaches caution.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Markets Right Now: Solid gains for stocks in early tradingGet breaking national and world news, broadcast video coverage, and exclusive interviews. Find the top news online at ABC news. “banks and media companies move higher” Prophetic....pride comes before the fall. MAGA! Thanks President Trump! I’ve never been Richer hahahahahahahaha hahahahahahahaha I love it. Fuck you aoc
Source: ABC - 🏆 471. / 51 Read more »

Cramer: Boeing, Nike, Apple, other stocks illustrate the resiliency of this stock marketJim Cramer breaks down the latest action on Wall street and explains why certain stocks have risen when analysts said they would fall. Which means they’ll soon tank, given his record.
Source: CNBC - 🏆 12. / 72 Read more »