A Father’s Investment Advice To His Son

The following letter from Dick Davis to his son Jeff was published 20 years ago in The Dick Davis Digest, just as it appears below. Because they represent core beliefs, most of the principles expressed here are repeated in the book, The Dick Davis Dividend. Basic market truths are timeless

This letter was written before index funds came into their own. That’s why the focus on low cost, diversified index funds, asset allocation and non-correlated assets found in the book is absent from the letter. But even today, the index fund investor who puts some of his money in individual stocks will likely find this fatherly advice a useful guide.

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