By Dhirendra KumarWhen the world’s most successful investor says that we (and I mean all of us) may be making a terrible mistake, we need to pay attention. Here’s what Warren Buffett says in his letter to shareholders for 2017, which was released last week: “It is a terrible mistake for investors with long-term horizons – among them, pension funds, college endowments and savings-minded individuals – to measure their investment ‘risk’ by their portfolio’s ratio of bonds to stocks”. Buffett’s point is simple, in the long run, bonds—and by extension other fixed-income investments— are actually riskier than stocks.