Michael Moses
Michael Moses
passion proud worked
He was a proud guy, and he worked really hard. He had a passion for this business.
adds overall percent portfolio reduce risk
When one adds art, one can reduce the overall risk to a portfolio by 10 percent to 20 percent.
gave held holder period randomly return selected stocks
This gave the holder an annualized return of 17.1 percent. A randomly selected subset of S&P 500 stocks held for the same period would have yielded, in general, an annualized return of approximately 8 percent.
average buying data hoping investor likelihood lottery might next picasso pick purchase randomly return ticket win
The likelihood that an investor might be able to randomly pick the next Picasso -- that's a lot like buying a lottery ticket and hoping to win big. You have no real data here on what the average return is from a random purchase of art.