Strategic Asset Allocation Or: How I Learned To Stop Worrying And Love The Dispersion | Cfa Institute Enterprising Investor
The old adage that allocation determines 90% of performance is rapidly becoming outdated. : For decades, strategic asset allocation has been considered the driving force behind investment portfolio returns. But the old adage that allocation determines 90% of performance is rapidly becoming outdated. Over the course of 2020, we have seen how the world of investing is shifting from one in which declining interest rates drive beta performance to one with increasing dispersion of returns within asset classes, regions, and sectors. This dispersion is amplified by retail investors who have greater access to the markets through supposedly zero-cost investment platforms.
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