Since You Asked
By Bryan Caplan
In his defense of non-betting, Tyler has said this:
How would you feel about an obligation (if only a moral one) for
scholars and commentators to publicly reveal the content of their
investment portfolios? Those portfolios are their real bets. Yet I
still favor the privacy norm and I should note that Bryan never has
(nor need he) revealed his portfolio to others at GMU, much less to the
He repeats his point in a followup post:
Nor have I seen the critics [of non-bettors] publicly revealing their equity and other
asset portfolios, the real bets which matter in financial terms.
Even an avid bettor might be afraid of scam artists and/or spousal disapproval of a full public revelation. But it’s worth facing Tyler’s challenge head on. Here are the basic facts about my portfolio:
1. I have saved roughly 30% of my after-tax income for my whole working life. I max out all of my options to invest out of pre-tax dollars.
2. I own a home with a 30-year fixed rate mortgage, and pay it back as slowly as possible.
3. My liquid portfolio consists 100% in internationally diversified equity index funds.
4. I have never actively traded. I seriously considered it once, in September 2008, when I thought that perhaps I should sell all of my stock. Doh!
OK, now that you know this, what bets am I effectively making?