What a quandary the elite universities have. How does their endowment switch to simple index funds when their business schools make a lot of money teaching about complex derivatives and inscrutable hedge strategies?
My Father who virtually never bought stocks did give me a couple of pieces of advice when I bought my first shares. 1) Buy some good stocks and lock them away; 2) Only buy stocks in a rising market.
#2 is worthless in practice, but #1 has proven to be gold. Of course his definition of "good stock" probably included utilities such as ice companies and streetcar lines, blue chips when he was young.
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