sportsguy

Black Swans, Portfolio Theory and Market Timing

Excellent article, though beyond the average investor, and beyond many corporate financial professionals who don't deal with portfolio theory of investments over the long term, due to earnings management. The critics of MPT gets into some aspects of behavioral finance, where the individual's focus on financial returns can have differing time horizons. So excellent article for long term investment strategy for pension plans and endowment funds, where the longevity of the money outlives the average lifespan of an individual.