One can also ask, "How does Vanguard make money from passive investors?"
ctreada wrote:what was the stdev?
that's the real argument for diversifying more -- reduce stdev at a similar-ish return
How exactly would you define market timing?
Crow Hunter wrote:I have seen this (Inverse Convexity) mentioned a couple of times.
I don't have a clue what it means.
I know that any time a newbie comes in to ask for advice on asset allocation (myself included), an overwhelming majority of responses advise the three or four fund portfolio.