All equity categories, correctly calculated, create near-identical lifelong returns. They just get there via wildly differing paths.

If some stock categories get too hot-and-pricey, mass supply is created via stock offerings to tap that cheap money - and, when overdone, drives it all down.

Having different types of stocks in your portfolio can enhance returns.

The average mutual fund holding period for equity or fixed income is only about three years. It's too short.

If you are prepared for some risk, junk bonds pay about 5%, but they tend to get whacked when interest rates rise. Same with lower-yielding but higher-quality corporate bonds.

Buying only what you know can end in disaster. Just think about Enron's employees and business partners, the 'locals' who bought lots of its stock because they thought they were in the know.