Trying to make money they did not need, they risked money they did have and did need.
Paraphrase of another Buffet quote.
Day9 wrote:Diversifying across asset classes may provide better risk-adjusted returns.
LeeMKE wrote:I don't right now, but did in 2008 when I got 5.5% on CDs over 12 months.
I usually have a ladder going, but not at the current rates!
AndrewXnn wrote:5 funds is about right, but when the price is right, one should also consider buying Berkshire Hathaway.
It is effectively a mutual fund.