Why liquidity is 'one of the least-valued' assets

18,913 次觀看・6 個月前

STORY: "Things change," Morris explained. "Your portfolio have today is not the portfolio you're going to have in a year from now. You want the cost of changing that to be minimized. You want the friction to be low, and you want to be able to be tactical and rapid in your response if you do need to make a change. Most folks feel that they have that - until their broker tells them 'Here's the cost of getting out of this portfolio today', and it's much bigger than they thought."