Tim Ferriss Quote
In 2007, I had one wealth manager ask me, What is your risk tolerance? and I answered honestly: I have no idea. It threw him off. I then asked him for the average of his clients’ responses. He said, Most answer that they would not panic up to about 20% down in one quarter. My follow-up question was: When do most actually panic and start selling low? His answer: When they’re down 5% in one quarter.
Tim Ferriss
In 2007, I had one wealth manager ask me, What is your risk tolerance? and I answered honestly: I have no idea. It threw him off. I then asked him for the average of his clients’ responses. He said, Most answer that they would not panic up to about 20% down in one quarter. My follow-up question was: When do most actually panic and start selling low? His answer: When they’re down 5% in one quarter.