The Radical Portfolio Theory

Making a handful of good uncorrelated bets that are balanced and leveraged well is the surest way of having a lot of upside without being exposed to unacceptable downside.

Final Thoughts: Three Pillars Reiterated

I continue to view a three-pillar portfolio as an ideal framework for risk-managed investing.

A classic “60/40” stock and bond portfolio consists of two asset types that both prefer disinflation. Stocks generally prefer disinflationary growth, and bonds generally prefer disinflationary contraction. They’ve bot

This traditional approach to asset allocation ran aground in 2008, when the financial markets collapsed and investors found that even if they had both stocks and bonds in their portfolio, they all fell together.