A Quote by William J. Bernstein
The essence of effective portfolio construction is the use of a large number of poorly correlated assets.
Related Quotes
There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain - it's going to be a number of different assets here. And the best way to invest in that is a diversified portfolio.
Diversifying sufficiently among uncorrelated risks can reduce portfolio risk toward zero. But financial engineers should know that's not true of a portfolio of correlated risks.
One should have a wide variety of assets in one's portfolio. And oil, by the way, is a particularly important asset to have in one's portfolio because we need it, and the economy thrives on it.
In the long run, a portfolio of well chosen stocks and/or equity mutual funds will always outperform a portfolio of bonds or a money-market account. In the long run, a portfolio of poorly chosen stocks won't outperform the money left under the mattress.
Negatively correlated assets tend to work in harmony in a way that people are generally not used to seeing.
If you hope to have more money tomorrow than you have today, you've got to put a chunk of your assets into stocks. Sooner or later, a portfolio of stocks or stock mutual funds will turn out to be a lot more valuable than a portfolio of bonds or CDs or money-market funds.
I still believe that for good business analysts a concentrated portfolio is a good strategy combined with a long term horizon. Once again, the secret to success in following the formula strategy is patience, a quality in short supply for both professionals and individual investors alike. I think investors should have a large portion of their assets in equities over time.
Cloud storage in data centers will utilize the latest developments in physical storage virtualization, deduplication and other methods to make the most effective use of physical storage assets. Software defined storage could allow a further level of abstraction and cost effectiveness. The vast bulk of content stored "in the cloud" will reside on large SATA interface HDDs with some on magnetic (mostly LTO) tape (particularly for "archives.")
Owning a variety of asset classes means that some part of your portfolio will be doing well when the cyclical turmoil arises. A broadly diversified portfolio includes large capitalization stocks, small cap, emerging markets, fixed income, real estate and commodities.
Vice has a bold voice and a distinctive model in the marketplace. This channel represents a strategic fit and a new direction for the future of our portfolio of media assets.
I regarded as quite useless the reading of large treatises of pure analysis: too large a number of methods pass at once before the eyes. It is in the works of application that one must study them; one judges their utility there and appraises the manner of making use of them.
To reduce risk it is necessary to avoid a portfolio whose securities are all highly correlated with each other. One hundred securities whose returns rise and fall in near unison afford little protection than the uncertain return of a single security.
Through and through the world is infested with quantity: To talk sense is to talk quantities. It is no use saying the nation is large. . . . How large? It is no use saying the radium is scarce. . . . How scarce? You cannot evade quantity. You may fly to poetry and music, and quantity and number will face you in your rhythms and your octaves.
We’re surrounded by anonymous, poorly made objects. It’s tempting to think it’s because the people who use them don’t care - just like the people who make them. But what we’ve shown is that people do care. It’s not just about aesthetics. They care about things that are thoughtfully conceived and well made. We make and sell a very, very large number of (hopefully) beautiful, well-made things. our success is a victory for purity, integrity - for giving a damn.
People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.
Imperfect substitutability of assets implies that changes in the supplies of various assets available to private investors may affect the prices and yields of those assets.
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