David Jackson
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Portfolio Changes: Looking More Like The Market [View article]
As always, an excellent and thought-provoking post. Two questions:
1. How do you track whether these top-down tactical asset allocation decisions are successful over time? Is it easy to separate out the impact of those decisions vs. which particular instruments you choose to implement a top-down strategy?
2. Do you think individual investors should be making tactical asset allocation decisions like this, or would they get sucked into the emotions of the market, resulting in buying high and selling low?