Pleased to be quoted in Cliff Goldstein’s June 25, 2014 article in the Wall Street Journal’s MarketWatch:
However, some investment tactics apply to everyone, according to Larry McClanahan, a portfolio manager based in Portland, Oregon. McClanahan says an overheated market is like an overvalued vehicle.
When asset classes are very overpriced, I dial back the risk of exposure for clients of all ages," he says. "Whether you're 32 or 62, you wouldn't pay $38,000 for a Toyota Camry that's only worth $28,000 just because you have a 'long enough time horizon.' So then why do we check our brains at the door when it comes to overpaying for financial assets? Valuation is the trump card.
You can read the full article here: Should Millennials Plan Retirement the Way Boomers Did?