Sorry my comment was unnecessarily mean. I was trying to make a point regarding your advice on investing everything in Vanguard stock/bond funds (agree with eve

Sorry my comment was unnecessarily mean. I was trying to make a point regarding your advice on investing everything in Vanguard stock/bond funds (agree with everything before that re: saving, avoiding debt etc.) Your points about index funds getting worse as they get bigger would apply to Vanguard too. And the whole idea that risk can be measured & mitigated in the first place requires predicting the future. Bankers in 2008 believed their portfolios were not overly risky either. Measuring risk is almost a contradiction, risk is the residual uncertainty that can't be measured after measuring/predicting everything else. Overall, you are describing the modern economic portfolio theory approach to investing. Yes, its backed by some prestigious people but no one can predict how it will do going forwards. Its important to remember that uncertainty. In 20 years we might see inflation has swallowed up the returns of those investors and only people who invested in stock X made any money. We might see the reverse. Who knows?