The best lessons that investors can learn from the Rolling Stones do not come from charismatic lead singer Mick Jagger; they come from drummer Charlie Watts.
"If you want to go fast, go alone; if you want to go far, go together." — Proverb.
Building a band is like diversifying a portfolio: Assume success is not dependent on one thing. Every portfolio needs its equivalent of a singer, a rhythm section and a lead guitarist. While the party continued after concerts for some members of the band, Charlie Watts had a different routine. He would go back to his hotel room after a show, take out a sketch book and draw his room.
The idea of being above the fray is uniquely suited to 2021, when risk appetites have flitted from meme stocks to cryptocurrencies to non-fungible tokens. Investors might pause sometimes and ask: "Am I missing out?" It depends.
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