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Asset Allocation
The split between asset classes is the decision that determines most of a portfolio's variability. It is also the one made least often and reviewed least carefully.
Foundations4 min read
Portfolio
Rebalancing
Left alone, a portfolio drifts toward whatever has performed best. Rebalancing restores the intended weights, which means selling what has risen.
Foundations3 min read
Portfolio
Dollar-Cost Averaging
Investing a fixed amount at regular intervals. It is two different things depending on whether it describes ongoing contributions or the deployment of a lump sum.
Foundations4 min read
Portfolio
Horizon and Risk Tolerance
Two different constraints that are frequently treated as one. Horizon is a fact about when the money is needed; tolerance is a fact about what will actually be held through.
Foundations4 min read