Millions of Americans inadvertently made a classic investment mistake that contributed to today’s widening economic inequality: They bought high and sold low.
Late in the stock-market booms of the 1990s and 2000s, more U.S. families clambered into stocks as indexes surged. Then, once markets tumbled, many households sold and took losses.
Those that held on during the most recent collapses reaped the benefits as stocks nearly tripled between 2009 and today.
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Article written by: Josh Zumbrun
Published by: WSJ.com