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“Private markets are the new public markets.”

— Matt Levine

Because I was a professional trader for a long time, people have always asked me for investment advice.

At first, I’d try to explain that traders don’t know anything about investing, but then they’d just ask me for trading advice, as if it were the same thing.

(Full disclosure: Traders don’t know much about trading, either. It’s mostly luck.)

Eventually, I stopped trying to explain the difference and started just offering the standard advice instead: Put it all in an US equities index fund. 

For anyone…

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