Elroy Dimson

And if you can manage it, if you can invest for the long term, that is the second best investment you can make.

The very best is investing in yourself.

That's getting an education.

So that would be where I rank highest.

And after that, I'd look for long-term financial assets.

It's never a good idea to be a market timer.

People who ask themselves, what should I be doing now?

Because it looks as though I could invest in risky assets now, but lose a lot.

And so I could stay out of the market.

That's market timing, which is not something which any advisor would urge you to do.

The reason for that is that it's easy to make a decision now to sell your common stocks

because you think they may fall, then you may never get the opportunity to buy back.

What people should be doing is focusing on a long-term strategy.

That long-term strategy should be as diversified as possible.

Costs should be as low as possible.

There are instruments for doing that where the platform fees and the asset management fees are incredibly low.

So that should be the starting point, I think, for many investors.

That's easy for me.

We've got four children and four children involved.

So we've got eight children and there are 10 grandchildren.