If you’re a financial advisor, you’re probably a stock. Your neighbor, the fireman, is probably a bond. In this interesting article from the Wall Street Journal, Moshe Milevsky discusses personal risk management and asset allocation from a different perspective.
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I had the good fortune to hear M. Milevsky give a 90 minute discussion of this topic at a conference in May, 2010. It’s truly a remarkable concept and for those folks with pensions illustrates their need for volatile assets over certain periods of time.