Joel Davis, Vanguard Global Chief Economist, writes a compelling piece on the power of “idea-sharing,” the effect it has on global productivity, and specifically its impact on the rapid development of the COVID-19 vaccine.
Wall Street is tripping over itself trying to convince you to invest in specific trends and sectors to take advantage of this heightened productivity as the world economy begins to inch back to pre-COVID levels.
Don’t get caught up trying to capture the hot sectors or hot stocks of the moment. You might come out ahead for a month, a quarter or a year. Over a lifetime of investing though, it is hard to beat your broad based, passively managed (index) funds. Let this collective idea-sharing work its magic maximizing returns in your portfolio. Is collective supposed to be a hyperlink?
Use your inherent wisdom for something more profound than trying to beat the stock market. Use it by engaging in this global idea-sharing and make your difference in this world.