Volatile market
Many people advising a careful analysis of risk appetite.
IMO, individual's risk appetite is dynamic. That's because the value of money to the individual is highly dependent on the mood and the level of cash flow.
I'd personally recommend anyone not to invest any life savings into the stock market. The market isn't some money guzzling mechanism. It's supposed to be an investment in businesses .
Along the similar line, the concept of liquidity premium is just ridiculous to me. Investing and divesting in business isn't some hasty decision to be made. In other words, liquidity premium = impatience premium.
/rant
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