(Bloomberg) “Blind luck” is how Jack Johns characterized his 16 percent profit on something he read about on the Internet called Master Limited Partnerships. Johns, a retired postal worker from Rincon, Georgia, said he sold his MLP investments within a year because he realized he didn’t really know what he’d bought.
“I always assumed when I got to this stage of my life, I’d be investing in Treasury bills and insured certificates of deposit,” said Johns, 65. Because of the Federal Reserve’s record-low interest rates, Johns said he sought higher returns in riskier assets. “MLPs fit into that category,” he said.
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