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"If a would-be Saver keeps maturities very short, he can go quite a way down the credit spectrum before incurring untoward risk. But as holding periods approach 5 years and go beyond that, then the Savor has begun to take on risks that are characteristic of an Investor."

Interesting and useful data. Wendy



I appreciate your enthusiasm, but what you quoted me as saying isn't data. It was only a hypothesis about some interesting data.

Don't trust my inferences. Test them for yourself. I think I'm right, but the matter has to be tested, and a lot of details have to be worked out before money can responsibly be put to work on the idea.

Creating ideas is easy. It's figuring out their downsides that takes effort and time. And just because a concept can be proven to be viable, doesn't mean it is, in fact, practical. What can be described in a paragraph or two is often a week's worth of research that leads to naught, which isn't to say that the effort was a waste of time. But Peter Lynch's rock ratio ("turn over ten rocks to find one good idea") might be optimistic. But less the rock turning is done, no ideas are found.

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