Chapter 9
What is omitted from your rational portfolio and why
In this chapter, I discuss other popular asset classes and their absence from the simple rational portfolio. We will see that appreciating that we are without an edge is even more important as we move away from the public equity and bond markets and into sectors that are typically closer to the local economies that we individually know and feel a part of. It may seem strange to have a whole chapter on things to leave out of your portfolio, but it is important to remember why: the portfolio in this book is for people who have no edge to outperform, and should be a simple and cheap portfolio as a result. The rational portfolio is certainly simple and cheap, and requires no edge ...
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