Protecting against a fall in equity prices
When you are young and don’t expect to retire for 30 years or more, I can understand why you make a great deal of conservative investments such as money-market funds or Treasury bills.When you are retired, or close to retirement, these sorts of investments make much more sense, protecting you from the risks of over-valued and volatile equity markets.Even Warren Buffett keeps a significant part of his portfolio in safe investments such as money market funds and Treasury bills when he feels the stock market may be overvalued.Personally, I maintain...



