There’s a great myth in America, driven by simplicity and convenience, that you should be invested mainly in the public markets. Wall Street also earns fees, commissions and payment for order flow when your money stays there. Tom guessed that most people on the call had more than 22% of their portfolio in public markets.
Tom has about 30% of his equity investments, not counting bonds, in public markets. After reading studies on what the super wealthy are doing, he plans to shift more of his assets into alternative assets, real estate and private equity.
Key points
- Keeping everything in public markets is driven by convenience and Wall Street fees.
- Many investors likely have more than 22% of their portfolio in public markets.
- Tom has about 30% of his equity investments in public markets and plans to shift more into private assets.
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