Skating Where the Puck Was: The Correlation Game in a Flat World

Skating Where the Puck Was: The Correlation Game in a Flat World

by William J Bernstein
     
 
Skating Where the Puck Was: The Correlation Game in a Flat World is the second installment in the Investing for Adults series. This series is not for novices.

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

Overview

Skating Where the Puck Was: The Correlation Game in a Flat World is the second installment in the Investing for Adults series. This series is not for novices.

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. 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. 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.

Product Details

ISBN-13:
9780988780309
Publisher:
Efficient Frontier Publications
Publication date:
12/29/2012
Pages:
34
Sales rank:
1,056,659
Product dimensions:
6.00(w) x 9.00(h) x 0.50(d)

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