Dan Solin: An Open Letter to Gerard Minack

Dear Mr. Minack,

I read an article on Business Insider indicating you are retiring from your position as an investment strategist with Morgan Stanley. Let me start by wishing you well in your retirement.

The article referred to “amazing” investment advice you gave just before you resigned. I am always curious about the advice given by Wall Street pros like yourself, so I couldn’t wait to learn details about your “amazing” advice. The article noted that you didn’t explicitly give this advice, but you demonstrate why any other investment strategy is “idiotic.” Here’s the “amazing” advice:

  • Don’t pick stocks.
  • Don’t time the market.
  • Buy low-cost, tax-efficient index funds.

via Dan Solin: An Open Letter to Gerard Minack.

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