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That money market account is backed by bonds, which are assets. Why not also make the argument that stocks are an article of faith. You have faith that the business will act in your interests and the currency you invested in will still exist when its time to sell.

If your old manager went bankrupt by mis-timing the market with a handful of tech stocks, then he most certainly didn't invest the Vanguard way: diversify and hold on for the long haul.






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