Recession-Baby Millennials Shun Stocks After U.S. Slump: Economy
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Portfolio manager Patrick O’Shaughnessy was talking with friends last year when he told them he invests only in stocks.
“They thought that this was an incredibly risky proposition,” said O’Shaughnessy, 29, of O’Shaughnessy Asset Management in Stamford, Connecticut, which has about $7 billion under management. “I found pretty universal skepticism.” He plans to publish a book this year on young people’s finances.