FYI: Yesterday's column highlighted one aspect of risk: the possibility that an asset becomes destroyed (either fully, such as by a government confiscating assets, or partially, as in a large inflation-adjusted loss sustained over multiple decades). The source was Bill Bernstein, who listed the "four horsemen" of destruction: hyperinflation, severe deflation, government confiscation, and war/devastation. To Bernstein, an investment adult is one who worries less about monthly fluctuations and more about avoiding catastrophes.
Regards,
Ted
https://www.morningstar.com/articles/934317/3-aspects-of-risk-2019-edition.html
