Added: September 01, 2010
When I worked in the investment department of a number of life insurers, every now and then I would hear one of the portfolio managers say, “We know that the rating agencies are going to downgrade the bonds of XYZ Corp, but we like the story.
No one knows their financial “risk tolerance” outside of the context of losing money. Part of the trouble is that risk and return are often described in the same breath as if they are inseparable, when they are more weakly related than
There’s a phenomenon called the Butterfly Effect. One common quotation is “It has been said that something as small as the flutter of a butterfly’s wing can ultimately cause a typhoon halfway around the world.” Today I am he
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