For most people, I recommend starting with a broad-based, Total Stock Market index fund rather than individual stocks for portfolio formation. I do so for two reasons. First, most people do not have sufficient capital to buy properly diversified portfolios themselves. Second, I recognize that most young people will not have substantial assets and will be accumulating portfolios by monthly investments. This makes mutual funds almost a necessity. As your assets grow, a U.S. stock-market fund should be augmented with a total international stock (index) fund that includes stocks from fast-growing
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