None of us have enjoyed the last three years. And of course, after a traumatic event
people look for reasons and answers. It’s natural to question your assumptions. Actually,
we must constantly test our beliefs and investment philosophy to see if it’s still valid.
However, far too much of the recent commentary has been focused on the very near term
and was way off base. If you are going to publish investment advice and commentary, at
least get your facts straight. Otherwise, we are in danger of learning the wrong lessons
from our experiences.
Modern Portfolio Theory Failed
Modern Portfolio …