Archive | March, 2011
31
Mar

Has “Portfolio Selection” been mis-applied?

Harry Markowitz’s paper “Portfolio Selection” published in the 1952 Journal of Finance and subsequent works that have built on these ideas by Markowitz and others, has had a profound effect on the investment philosophy of advisors, foundations, endowments and individuals.  The seed of Portfolio Theory set forth in 1952 has indeed become a full grown tree at this […]

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03
Mar

Grow Assets or Maximize Utilization?

Retirement is the ultimate consumption phase of life rather than an accumulation phase.  The dilemma perceived through the Modern Portfolio view is that the retirement portfolio must continue to grow. MRT believes that retirement is mostly about maximizing the utilization of accumulated assets in ways that do not jeopardize the main goal of retirement, which is to […]

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