Warren Buffett: Most people shouldn't pick individual stocks—here's how to invest instead. (via CNBCMakeIt)
Investing legend Warren Buffett wants you to keep it simple and"I don't think most people are in a position to pick single stocks," he said during, which was held virtually this year from Omaha, Nebraska. "A few [are], maybe, but on balance, I think people are much better off buying a cross-section of America and just forgetting about it."
Using index funds is a passive investment strategy that allows you to take advantage of the success of major corporations without the risks associated with buying individual stocks. It's nearly impossible for the average investor to consistently pick the right stocks to "beat the market." Studies show you're better off owning the whole market with a low-cost index fund. This also removes the significant company risk of an individual stock drastically underperforming the market.
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