Michael Moses
Michael Moses
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.
passion proud worked
He was a proud guy, and he worked really hard. He had a passion for this business.
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.