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Book Cover for: Skating Where the Puck Was: The Correlation Game in a Flat World, William J. Bernstein

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

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 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.

Book Details

  • Publisher: Efficient Frontier Publications
  • Publish Date: Dec 29th, 2012
  • Pages: 34
  • Language: English
  • Edition: undefined - undefined
  • Dimensions: 9.00in - 6.00in - 0.07in - 0.13lb
  • EAN: 9780988780309
  • Categories: Investments & Securities - Stocks