It’s Either Sadness or Euphoria

When somebody fills out a risk tolerance questionnaire, it’s usually more a reflection of how the market is doing and less a reflection of how they actually respond to risk.
Stocks are doing well? “I can handle volatility.”
Volatility shows up? “I’m somewhat risk averse.”
But a global pandemic will change this dynamic very quickly. Certain investors  are no longer responding to the sto…

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