November 2020
Intermediate to advanced
256 pages
8h 12m
English
book
Beyond Diversification: What Every Investor Needs to Know About Asset Allocation
by Sebastien Page
Content preview from Beyond Diversification: What Every Investor Needs to Know About Asset Allocation
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13
Stocks Versus Bonds and Something About Precision Weapons
Utility theory is meant to represent someone’s tolerance for risk.
—JPP
WE’VE JUST DISCUSSED WHY WE SHOULD NOT GIVE UP ON asset classes. Though the debate on asset classes versus risk factors is relatively recent, the perennial, most fundamental debate in asset allocation is on stocks versus bonds. How much should an investor allocate to each asset class? This decision, more than any other portfolio construction decision, drives the risk level in investors’ portfolios. Ultimately, it drives outcomes with respect to an individual investor’s retirement security (or lack thereof) or ability to meet any kind of liability. It is, without a doubt, the most important portfolio construction ...
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I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.