Considering he was a value investor maybe there is something to that way of investing that leads to a longer, happier life. Less worries about market swings and volatility. The Net Payout Yields portfolio attempts to follow that trend, but the rest of our portfolios are very volatile. Maybe we should adopt that philosophy. Sure would be less stress, but maybe not as much fun.
Anyway, just thought it was interesting that a pioneer in the supposedly stressful area of money management survived the stresses of the market for that long. Even more interesting is that at the ripe age of 105 he supposedly helped a Neuberger partner plow money into the market at the bottom of the financial crisis in 2008.
Via Wall Street Journal:
A New York City kid, Neuberger started his career on Wall Street just before the 1929 stock market crash, and survived to found his own firm in 1939 that managed investments for wealthy people.
In 1950, his firm started offering more middle-of the-road investors the option of mutual funds with a nearly brand-new concept: low fees. The no-load mutual fund now is an investing staple.
Neuberger’s experience with nearly every significant market boom and bust of the last century meant other investors sought out his sometimes prescient advice. Before the 1987 crash, Neuberger moved money away from stocks, fearing a runup by speculators. During the frenzy of the 2008 financial crisis, Neuberger urged a nervous Jeff Bolton, a partner at Neuberger Berman, to plow money into the market, helping Bolton call a market bottom.