Obsessing Over The Trees (And Overlooking The Forest)
From The Capital Spectator
December 27, 2012 - 7:29am
With the year nearly complete, what have we learned in 2012 from an investing perspective? The main lesson is a familiar one, but one that is too often trampled under the noise of the moment. Focusing on the portfolio is (still) the primary objective, as Markowitz told us all those years ago. More than half a century later, theory and the empirical record are in rare state of agreement: portfolio...
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