Skating Where the Puck Was: The Correlation Game in a Flat World is the second installment in the Investing for Adults series.
Rather, this booklet provides a way of navigating a global investment landscape that grows ever more linked by the month, and a way of thinking about diversification..
And as long as I\'m lowering your expectations, this booklet is most certainly not a blueprint for the "perfect portfolio." You\'re an adult, after all, so you know that the future efficient frontier lies well beyond our ken; presumably you already know all about the mechanics, long-term benefits, as well as the uncertainties, of wide diversification and factor tilt using low-cost, efficient vehicles and the risk/reward spectrum between all-fixed-income and all-equity portfolios.
This booklet explores the notion that, as a general rule, no magic policy rich in high-return/low-Correlation alternative asset classes exists that will simultaneously preserve upside reward and protect against downside losses.
This series is not for novices.
Skating Where the Puck Was: The Correlation Game in a Flat World is the second installment in the Investing for Adults series
