Welcome, fellow financial adventurers, to the bustling world of portfolio management, a realm that is as much an art form as it is a science. In essence, portfolio management involves the delicate art of crafting the perfect investment cocktail, a balanced concoction of various assets mixed in just the right proportions. It’s an ongoing endeavor, a process of continually adjusting, recalibrating, and tweaking one’s investment mix in a quest to maximize returns and minimize risk, all while staying aligned with one’s financial goals and risk appetite.
Introduction to Portfolio Management
But portfolio management isn’t a one-size-fits-all proposition. Just as the perfect cocktail varies from person to person, so too does the ideal investment portfolio. The challenge and beauty of portfolio management lie in this personalization. It requires the ability to understand individual needs and circumstances and to translate those into investment decisions – a fascinating and rewarding pursuit.
In the exhilarating world of investing, a well-planned portfolio management strategy can mean the difference between a white-knuckle roller coaster ride and a smoother, more predictable journey. It’s akin to a master blueprint or a compass guiding you through the labyrinth of financial markets.
The Importance of Strategic Portfolio Management in Investing
The benefits of strategic portfolio management are manifold. It equips you to construct a diverse array of investments, spreading out risk and potentially enhancing returns. In simpler terms, you’re not putting all your eggs in one basket. This strategic balancing act can provide a cushion against the unpredictable swings of the market, acting as a financial buffer. Moreover, it’s your playbook that aligns your financial maneuvers with your long-term goals. It’s not just about winning, it’s about winning your way.
As we prepare to delve deeper into this fascinating world, we’ll be in excellent company, learning from a pantheon of investing titans who’ve left indelible marks on the world of finance.
Overview of the Legendary Investors to be Covered
Firstly, we’ll explore the investment universe through the lens of Warren Buffet, the ‘Oracle of Omaha’, a man who’s turned his Midas touch into a golden legacy of success. His philosophy of value investing and long-term ownership has set the standard for investors worldwide.
Our journey will then take us into the mind of Ray Dalio, a visionary investor known for his unique ‘All Weather’ strategy and radical transparency. His robust, data-driven approach has proven its mettle in navigating tumultuous markets, earning him the admiration of his peers.
From there, we venture into the investment philosophy of Peter Lynch, the financial savant who made ‘investing in what you know’ a popular mantra among retail investors. As the manager of the Fidelity Magellan Fund, his common-sense approach and eye for growth stocks yielded returns that are the stuff of legend.
Last but not least, we’ll revisit the enduring wisdom of Benjamin Graham, the pioneer of value investing. His principles of careful stock selection based on intrinsic value and ‘margin of safety’ have influenced generations of investors, including his most famous student, Warren Buffet.
And then, we’ll cap off our intellectual expedition with a deep dive into the Modern Portfolio Theory, a game-changing approach to portfolio management championed by the Nobel laureate Harry Markowitz.
So, hold onto your hats, dear readers! As we traverse this exciting landscape, gleaning insights from these iconic figures, we are not merely studying history. We are arming ourselves with the tools and knowledge to carve out our own financial futures. Let’s step boldly into the footprints of these investing giants, and see what lessons we can unearth.
The Fundamentals of Portfolio Management
Explanation of Diversification
As we step into the vibrant arena of portfolio management, one concept looms large and unmistakable: Diversification. Picture yourself at a gourmet buffet. You wouldn’t pile your plate high with just one type of food, right? The beauty lies in sampling a bit of everything, a smorgasbord of different tastes and textures. Diversification in investing is quite similar.
At its heart, diversification is about spreading your investments across a variety of assets, such as stocks, bonds, commodities, or real estate, so that your exposure to any one type of asset is limited. It’s about not just putting all your eggs in one basket, but carefully selecting different baskets, each one poised to deliver a different performance under different circumstances.
Why is this important, you ask? Well, because markets can be as moody as the weather. A sunny outlook one day can quickly turn stormy the next. Diversification helps to ensure that you aren’t overly exposed to the fortunes of a single asset, cushioning the blow from any one investment’s underperformance.
Importance of Asset Allocation
If diversification is about selecting the right mix of ingredients, asset allocation is about deciding how much of each ingredient to use. It’s about the proportion of stocks, bonds, cash, or alternative investments in your portfolio. Like a master chef, the key is to find the right balance that complements your taste (risk tolerance) and dietary needs (financial goals).
Asset allocation is one of the most crucial decisions an investor will make because it will largely determine the risk and return profile of their portfolio. It is the strategy that sets the direction of your investment journey. It defines the structure of your portfolio and is a key determinant of its success.
An appropriate asset allocation strategy depends on factors such as your financial goals, risk tolerance, and investment horizon. It’s about finding that sweet spot where your investments align seamlessly with your financial goals and risk appetite.
Risk Management Strategies
The financial markets, much like life itself, are inherently uncertain. Risk is the eternal dance partner of return, and managing it is a fundamental aspect of portfolio management.
Risk management strategies can be as varied as the investors who implement them. But at their core, these strategies involve understanding the risks inherent in an investment, measuring that risk, and taking appropriate steps to mitigate it.
One of the primary risk management strategies is, of course, diversification. By investing in a range of different assets, you can buffer your portfolio against the volatility of any one investment. It’s like having a chorus line of investments, each ready to step up and perform when the lead falls out of tune.
Another key strategy is regular portfolio rebalancing. This involves periodically reviewing your portfolio and making necessary adjustments to maintain your desired asset allocation. It’s the financial equivalent of pruning a bonsai tree, carefully trimming and shaping to maintain the perfect form and balance.
Lastly, understanding and implementing an appropriate investment horizon can help manage risk. The length of time you plan to invest can greatly influence the type of risks you can absorb. For instance, if you’re saving for a goal that’s decades away, you may be able to ride out short-term market volatility in exchange for potentially higher long-term returns.
In conclusion, understanding and practicing diversification, asset allocation, and risk management strategies are foundational aspects of portfolio management. They are the compass, the map, and the ship’s wheel in your investment journey, guiding you through the choppy seas of the market towards your financial destination.
source: FREENVESTING on YouTube
Insights from Warren Buffet
source: Farnam Street on YouTube
Buffet’s Philosophy of Investing
Warren Buffet, the maestro of the financial world, is renowned for his simplicity and sagacity. His investment philosophy, much like the man himself, is elegantly straightforward. Picture this: investing, to Buffet, is akin to owning a piece of a business rather than merely owning a tradable piece of paper. When he invests, he’s not just buying shares; he’s buying a portion of a business he believes in.
Buffet’s philosophy revolves around understanding a business deeply, having faith in its long-term potential, and being patient. It’s the tortoise’s approach in a hare’s world: slow, steady, and ultimately victorious. Buffet once said, “Our favorite holding period is forever”, highlighting his dedication to long-term investing.
Key Strategies: Buy-and-Hold, Value Investing
Armed with his unique philosophy, Buffet has wielded two principal strategies throughout his storied career: buy-and-hold and value investing.
Buy-and-hold is all about resisting the siren song of market trends and sticking to your investment guns. Buffet isn’t swayed by the gusts of market sentiment. Instead, he anchors his investments in solid businesses with robust fundamentals, and then, he waits. He waits for the market to acknowledge the value he saw all along.
The second pillar of his approach, value investing, was bequeathed to him by his mentor, Benjamin Graham. It’s all about hunting for bargains, for companies that are undervalued by the market. It’s like scouring a flea market for hidden gems overlooked by others. Buffet seeks out stocks selling for less than their intrinsic value, confident that over time, the market will correct its oversight.
Real-world Examples and Outcomes of Buffet’s Approach
Buffet’s approach has been spectacularly successful, transforming him into one of the wealthiest individuals on the planet. His company, Berkshire Hathaway, has consistently outperformed the S&P 500, a testament to the power of his investing strategies.
Take the example of his investment in The Coca-Cola Company. In 1988, Buffet began buying Coca-Cola shares, amassing a substantial stake. He understood and believed in Coca-Cola’s business model and saw that the market was undervaluing the company. Decades later, that investment has paid off handsomely, generating enormous returns.
Another classic illustration of Buffet’s approach is his investment in the insurance company, Geico. Buffet had long appreciated Geico’s robust business model and efficient operations. When the market undervalued Geico in the late 1970s, Buffet saw the discrepancy between the market price and the company’s intrinsic value. He started buying Geico shares, eventually acquiring the entire company. Today, Geico is a cornerstone of Berkshire Hathaway’s success.
In conclusion, Warren Buffet’s approach to investing has proven that patience, a deep understanding of businesses, and the courage to defy market trends can lead to extraordinary success. His philosophy and strategies serve as a guiding star for investors navigating the vast investment universe. Remember, in Buffet’s words, “The stock market is a device for transferring money from the impatient to the patient.”
source: Valuetainment on YouTube
Insights from Ray Dalio
Dalio’s Philosophy of Investing
Enter Ray Dalio, a virtuoso of finance known for his distinctive perspective on investing. A philosophical pragmatist, Dalio believes that successful investing is not about betting on a winning horse, but about understanding how the entire race works. His philosophy embraces the reality of economic cycles and the rollercoaster of market booms and busts.
Dalio believes in understanding the bigger picture, the macroeconomic forces that shape the market’s tides. He values objectivity and clear-headedness, arguing that our most painful experiences can be our most valuable teachers. “Pain + Reflection = Progress,” he often says.
Key Strategies: Risk Parity, All-Weather Portfolio
At the heart of Dalio’s investing strategies lies the concept of ‘risk parity’ and the construction of an ‘all-weather’ portfolio. Imagine sailing through a year of changing seasons, where the calm waters of summer can swiftly turn into the turbulent waves of winter. You’d want a ship that can handle it all. This is precisely what Dalio’s all-weather portfolio aims to do.
Risk Parity is about balancing the risk in your portfolio, not just the allocation of assets. It aims to deliver the maximum return for a given level of risk by diversifying across different asset classes that perform well under various economic conditions.
The All-Weather Portfolio, meanwhile, is Dalio’s answer to enduring all economic seasons. It comprises a mix of assets that can navigate both calm and stormy economic conditions—growth, recession, inflation, and deflation. The goal is to create a portfolio that can perform reasonably well in any economic environment, mitigating the need for accurate predictions about the future.
Real-world Examples and Outcomes of Dalio’s Approach
Dalio’s approach, brought to life at his investment firm Bridgewater Associates, has stood the test of time. The firm’s Pure Alpha fund has consistently delivered strong returns, reinforcing the efficacy of Dalio’s approach.
One of the most convincing demonstrations of Dalio’s strategy was during the 2008 financial crisis. When most investors faced devastating losses, Dalio’s All-Weather Portfolio proved its mettle. It navigated the financial storm relatively unscathed, reinforcing the strength of a balanced, risk-parity approach in an unpredictable market.
Furthermore, Dalio’s All-Weather strategy has offered steady returns with less volatility, even during periods of economic uncertainty. It has attracted institutional investors and pension funds looking for a resilient strategy that can survive various economic scenarios.
In the grand scheme of things, Dalio’s investing philosophy and strategies underscore the importance of big-picture thinking, objectivity, and balance in investment success. His risk parity and All-Weather Portfolio strategies offer a road map to sailing smoothly through the choppy waters of market unpredictability. As Dalio himself puts it, “He who lives by the crystal ball will eat shattered glass.” His approach aims to ensure we’re well-fed without resorting to a diet of broken glass.
source: Investor Center on YouTube
Insights from Peter Lynch
Lynch’s Philosophy of Investing
Next on our financial odyssey is Peter Lynch, the everyman’s guru, who turned Wall Street wisdom into main street vernacular. His philosophy of investing is refreshingly relatable and grounded. According to Lynch, investing is not about deciphering convoluted charts or interpreting arcane economic indicators. It’s about understanding a business, its products, and its prospects. It’s as much about common sense as it is about financial sense.
Lynch encourages individual investors to leverage their unique knowledge and experiences. He believes that the best investment ideas may come from the supermarket or the shopping mall rather than the financial news. “Invest in what you know,” he famously said, underlining the power of personal understanding in investing.
Key Strategies: Investing in What You Know, Growth Investing
Lynch’s strategies revolve around his central philosophy of investing in what you know. This approach is about recognizing and capitalizing on opportunities in one’s day-to-day life. If you love a product, see it flying off the shelves, or admire a company’s service, it might be worth researching that company as a potential investment.
Lynch’s second key strategy is growth investing. He had an uncanny knack for spotting ‘tenbaggers’, stocks that could increase tenfold in value. His approach was to identify and invest in companies that were poised for sustained growth due to factors like innovative products, superior business models, or underappreciated market segments.
Real-world Examples and Outcomes of Lynch’s Approach
Peter Lynch’s impressive track record as the manager of the Fidelity Magellan Fund bears testament to his strategies. During his tenure from 1977 to 1990, the fund posted an average annual return of 29.2%, making it the best performing mutual fund in the world.
His investment in Taco Bell is a classic example of his ‘invest in what you know’ approach. Lynch had seen the growing popularity of the fast-food chain and recognized its potential for growth before many professional analysts did. He invested in the company, which turned out to be one of his many ‘tenbaggers’, giving stellar returns.
Similarly, his investment in Hanes Brands, inspired by his wife’s rave review of their new pantyhose product, further illustrates his approach. Recognizing the product’s potential, Lynch invested in Hanes. The stock turned out to be a winner, underlining the power of consumer observation in investment decisions.
In conclusion, Peter Lynch’s philosophy and strategies spotlight the value of everyday observation, common sense, and an understanding of consumer behavior in successful investing. His story reassures us that you don’t need to be a Wall Street wizard to excel in investing. As Lynch once said, “Everyone has the brainpower to make money in stocks. Not everyone has the stomach.” His approach empowers the average investor to confidently navigate the financial markets.
source: The Swedish Investor on YouTube
Insights from Benjamin Graham
Graham’s Philosophy of Investing
Benjamin Graham, fondly referred to as the “father of value investing,” laid the cornerstone for modern investment theory. His philosophy centers around the principle that an investor should not be swayed by the market’s ebbs and flows but should treat investing as the purchasing of businesses, which should be done only when the price is right.
At the heart of Graham’s philosophy is the concept of ‘Mr. Market’, a character he used to personify the manic-depressive behavior of markets. According to Graham, Mr. Market is your business partner who offers to buy or sell his share of the business to you every day at different prices, influenced by his mood rather than the inherent value of the business. Graham’s message: Don’t let Mr. Market’s moods influence your decisions; focus on the intrinsic value of the business.
Key Strategies: Value Investing, Margin of Safety
The two main strategies that Graham espoused are Value Investing and Margin of Safety. Value investing involves buying securities that appear underpriced by some form of fundamental analysis. Graham advised looking for companies trading below their intrinsic value – in other words, on sale.
Margin of Safety, on the other hand, is the principle of buying a security at a significant discount to its intrinsic value, which is done to allow some room for error in the estimation of the value. Like a careful engineer who overdesigns a bridge to handle more weight than it will ever need to carry, Graham’s investors always leave room for the unexpected.
Real-world Examples and Outcomes of Graham’s Approach
Graham’s approach, detailed in his influential books like “The Intelligent Investor” and “Security Analysis”, has influenced countless investors, most famously Warren Buffet, his star student.
As an investor and manager of the Graham-Newman Corporation, a closed-end mutual fund, Graham implemented his value-investing strategies, generating an average annual return of about 15% from 1936 to 1956, significantly outperforming the broader market.
A classic example of Graham’s approach in action was his investment in Northern Pipeline Co. in the 1920s. After a deep analysis of the company’s balance sheet, he discovered that the company owned bond assets significantly higher than its market valuation. Recognizing this discrepancy, he bought the stock at a significant discount to its intrinsic value, making a substantial profit when the market realized the company’s true worth.
In conclusion, Benjamin Graham’s philosophy and strategies are foundational to the field of value investing. His teachings remind us that investing is as much about temperament as it is about intellect, and that patience, discipline, and a keen understanding of value are vital for investment success. As Graham famously said, “In the short run, the market is a voting machine but in the long run, it is a weighing machine.” His strategies continue to be the scales on which smart investors weigh their decisions.
source: Finance Explained on YouTube
Lessons from Modern Portfolio Theory: Harry Markowitz
Introduction to Modern Portfolio Theory (MPT)
Harry Markowitz, the architect of Modern Portfolio Theory (MPT), rewrote the rules of investing, earning him a Nobel Prize in Economics. Imagine an alchemist who discovered not how to turn lead into gold, but how to balance risk and return in a portfolio, thereby turning fear into fortune. That’s Harry Markowitz for you.
MPT, which Markowitz introduced in his 1952 paper, is a framework for assembling a portfolio of assets in such a way that maximizes expected return for a given level of risk. It emphasizes the benefit of diversification, highlighting how combining uncorrelated assets can mitigate risk. The key here is not the individual performance of each asset, but the performance of the portfolio as a whole.
Impact of MPT on Portfolio Management
The impact of MPT on portfolio management has been nothing short of transformative. It turned the focus from individual security selection to a holistic view of portfolio construction based on diversification and risk-reward optimization. It reframed risk as not merely something to be feared and avoided, but as a necessary partner in the dance of investment returns.
The revolutionary concept of the ‘efficient frontier’ introduced by MPT provides a guide for how one can optimize a portfolio to get the most return for a given level of risk. This insight has influenced portfolio management strategies worldwide, leading to the development of many sophisticated risk-optimization tools and techniques.
Real-world Application and Outcomes of MPT
Markowitz’s Modern Portfolio Theory is used extensively in practice, guiding decisions in mutual funds, hedge funds, and retirement portfolios. Many robo-advisors, the algorithm-driven, automated investment platforms, also base their asset allocation strategies on principles from MPT.
Take the example of the creation of index funds. These funds, which aim to match the performance of a specific market index, embody the principle of diversification in MPT. Their purpose is to achieve broad market exposure, minimize operating expenses, and mitigate the risk of picking individual stocks.
Furthermore, the concept of a balanced portfolio of stocks and bonds, which many individual investors follow, is a testament to MPT’s principles. By allocating assets between diverse classes like stocks for growth and bonds for stability, investors can strive for an optimal risk-reward balance in their portfolios.
In conclusion, Harry Markowitz’s Modern Portfolio Theory has fundamentally changed the way we manage and perceive portfolios, marking a seismic shift from individual asset focus to a holistic view of portfolio performance. As Markowitz stated, “Diversification is the only free lunch in finance.” And, his theory continues to provide us the roadmap to this ‘free lunch,’ guiding us towards a more balanced, risk-optimized approach to investing.
source: Rule #1 Investing on YouTube
Analysis of Commonalities and Differences in Strategies
On the surface, the strategies of these legendary investors might seem worlds apart. Yet, they share a fundamental commonality: a focus on sound principles over fads, and a disciplined approach over reckless speculation. All these investors look for value, whether in an undervalued company, a reliable consumer product, or a diversified portfolio.
While Graham and Buffett follow a value-oriented strategy, Lynch focuses on growth stocks within his circle of competence. Dalio, on the other hand, transcends the growth-value dichotomy, emphasizing macroeconomic factors and risk balance. Markowitz’s MPT introduces a mathematical, holistic approach, shifting focus from individual securities to portfolio performance.
Factors that Might Influence the Effectiveness of Each Strategy
The effectiveness of each strategy can be influenced by several factors, including market conditions, individual knowledge and risk tolerance, and the ability to stay disciplined over the long term.
For instance, Graham’s value investing requires a thorough understanding of a company’s financial health and patience to wait for the market to recognize the company’s worth. Buffett’s approach requires similar patience and business acumen, along with an appetite for large, controlling stakes in companies.
Lynch’s strategy calls for deep consumer understanding and an eye for spotting growth opportunities. Dalio’s approach requires a firm grasp of macroeconomic cycles and a willingness to balance and rebalance the portfolio as conditions change. Markowitz’s MPT, meanwhile, requires understanding the complex relationship between risk and return and the capacity to diversify effectively.
Discussion of Conditions Under Which Each Strategy Might be Preferred
In buoyant, growing markets, Lynch’s growth investing and Buffett’s long-term, buy-and-hold strategies can yield significant returns. In contrast, during market downturns or periods of high volatility, Graham’s value investing and Dalio’s risk parity approach may prove advantageous, offering safer harbors during storms.
Markowitz’s MPT is a more all-weather approach, designed to optimize risk and reward across varying market conditions. However, its effectiveness depends significantly on accurate risk-return estimations and the correlations between different assets.
In essence, the best strategy for an investor depends on their investment goals, risk tolerance, time horizon, and areas of knowledge. As these legends show, there is no one-size-fits-all strategy in investing. The art of portfolio management lies in understanding these principles and strategies, learning from these investing maestros, and then orchestrating our unique investment symphony. As the final note in this composition, always remember, the aim is not to die rich, but to live wealthy.
source: SALT on YouTube
The Future of Portfolio Management
Impact of Technology on Portfolio Management
As we gaze into the crystal ball of future investment landscape, one word stands out in high-definition: technology. Technology, like a disruptive yet resourceful intern, is dramatically reshaping the investment world, making portfolio management faster, cheaper, and more accessible. It’s turning investment from a mysterious art into a precise science.
With the rise of big data and analytics, investors have a wealth of information at their fingertips. Predictive analytics, machine learning, and artificial intelligence are empowering investors to dissect complex data patterns and make informed decisions. Meanwhile, blockchain technology is enhancing transparency and security in transactions.
Emerging Trends: AI, Robo-advisors, Algorithmic Trading
The investment arena is buzzing with new trends powered by technology. AI and machine learning are being harnessed to forecast market movements and identify promising investment opportunities. Robo-advisors, with their automated portfolio management services, are democratizing investing, opening the gates of Wall Street for main street investors.
Algorithmic trading, where pre-programmed instructions execute trades at speeds and frequencies that humans could never achieve, is adding a new dimension to portfolio management. By removing the emotional element from trading, algorithms are aiming to make investing more rational and less risky.
How the Philosophies of These Legendary Investors Can Apply to These New Trends
While technology is transforming the how of investing, the wisdom of our investment legends continues to illuminate the why and what of investing. No matter how advanced our tools become, the fundamental principles they preached – value investing, understanding the business, portfolio diversification, risk management – will always hold true.
In a world dominated by robo-advisors and AI, Graham’s emphasis on intrinsic value and Buffett’s buy-and-hold philosophy serve as timeless reminders of the importance of human judgment. Lynch’s ‘invest in what you know’ principle underlines the value of personal understanding, a trait yet to be replicated by AI.
Dalio’s all-weather portfolio concept and Markowitz’s Modern Portfolio Theory gain even greater relevance in an algorithmic world. They provide the foundational logic that powers many automated portfolio management algorithms and robo-advisors today.
In conclusion, while technology propels us into the future of investing, the wisdom of these legendary investors anchors us to the timeless principles of successful investing. The future might belong to machines, but the guiding light will continue to be human wisdom and ingenuity. As we step into this future, we carry the philosophies of these investing greats as our trusted compass, navigating the brave new world of investing.
source: The Oxford Club on YouTube
Conclusion: Recap of the strategies from each legendary investor
Our journey through the art of portfolio management has taken us through the philosophies and strategies of some of the most successful investors of our time. We witnessed the power of value investing and the focus on the long term through the eyes of Benjamin Graham and Warren Buffett. We discovered the importance of investing in what we know and identifying growth opportunities with Peter Lynch.
We learned about a holistic approach to portfolio management that transcends individual asset performance, emphasizing overall portfolio risk and reward with Harry Markowitz. And we delved into a strategy that balances risk across various asset classes and capitalizes on the natural ebb and flow of economic cycles with Ray Dalio.
Final Thoughts on How to Apply These Strategies in Personal Portfolio Management
Despite the differences in their approaches, each of these legendary investors provides us with tools to craft a portfolio that suits our unique circumstances, preferences, and goals. The key takeaway from all these investors is not a one-size-fits-all strategy, but a roadmap to build our own investment philosophy, grounded in discipline, patience, and understanding.
So, how should we apply these lessons in our portfolio management? Start by assessing your risk tolerance and investment objectives. Use that to guide your asset allocation and security selection. Remember the power of diversification and the importance of staying the course. And above all, treat investing not as a speculative gamble, but as a diligent, long-term pursuit of value.
Encouragement for Further Study and Learning in the Field of Portfolio Management
And so, dear readers, as our exploration of the art of portfolio management concludes, remember that this is just the beginning of your investment journey. The wisdom of these investing titans lights our way, but it’s up to us to walk the path.
Dive into further study, continually hone your knowledge, stay curious, and keep learning. Read their books, dissect their strategies, understand their philosophies, and see how you can apply these principles to your investment journey.
In the ever-changing world of investing, adaptation and learning are our most valuable assets. As Peter Lynch wisely said, “Investing without research is like playing stud poker and never looking at the cards.”
Remember, investing is an art, one that takes time to master. But with the wisdom of these legendary investors guiding us and the wealth of tools and knowledge available today, we are all empowered to paint our unique masterpiece in the world of investing. Happy investing!
Disclaimer: Hey guys! Here is the part where I mention I’m a travel content creator as my day job! This investing opinion blog post is entirely for entertainment purposes only. There could be considerable errors in the data I gathered. This is not financial advice. Do your own due diligence and research. Consult with a financial advisor.