Asset Allocation

When you can’t see the forest for the trees: a holistic approach to asset allocation

Them rates go rising: Should I own bonds in a rising rate environment?

“The individual investor should act consistently as an investor and not as a speculator.”
 — Benjamin Graham

“Buying a bond only for its yield is like getting married only for the sex” — Benjamin Graham

“Psssst. I know a stock that’s going to make you 10 times your money.”

Rebalance…just do it.

“Better learn balance. Balance is key. Balance good, karate good. Everything good. Balance bad, better pack up, go home. Understand?”

-Mr. Miyagi, The Karate Kid

That’s why I chose Yale

34x returns. That’s how much you would have made if you invested with the Yale endowment fund over the last 30 years. The Yale Investment Office has had annualized returns of 12.5% during this period. For reference, if you had the brilliant foresight to put all your money in the S&P 500…

Frontier skiing

“The whole is greater than the sum of its parts.”
- Aristotle

Allocating for that bang for buck

“The most important thing you can have is a good strategic asset allocation mix. So, what the investor needs to do is have a balanced, structured portfolio — a portfolio that does well in different environments…. we don’t know that we’re going to win. We have to have…

Mountain or beach?

“Uncertainty is an uncomfortable position. But certainty is an absurd one.”
- Voltaire

Free Lunch

“Tis the part of a wise man to keep himself today for tomorrow, and not venture all his eggs in one basket.”
- Don Quixote

Basic economic theory dictates that there’s no such thing as a free lunch. Nobel prize-winning economist Markowitz begged to differ — he called diversification…