William Bernstein is one of the people I admire most in this industry. He is a true renaissance man, having been a neurologist, financial theorist, money manager, and non-fiction author. If you’ve never read any of his books, I cannot recommend them highly enough. You can check them out here.
Bernstein was on Master’s in Business this weekend with Barry and during their conversation about money, he just absolutely nailed:
If you put $100 into stocks and save it for 70 years, you’re going to have a fabulous amount of money. Myself, I’d rather be twenty years old with a few euros in my pocket on the boulevards of Paris than a ninety year old with millions of dollars.
Michael Batnick is a managing partner at Ritholtz Wealth Management. He is the co-host of Animal Spirits, What Are Your Thoughts, and The Compound and Friends. For disclosure information please see here.