Portfolio Allocation without the efficient frontier myth
Efficient frontiers aren't efficient and using them doesn't put anyone on the frontier. Understanding sources of value and the relationship between money (equity and credit) and price are crucial to building long term outperforming portfolios.
Allocating to a portfolio across all 4 sectors of the economic cycle can provide longer term value stability to the equity portion of a portfolio.
We help teams plan equity allocation across money and value growth cycles.
The book, The Nature of Value explains our philosophy for how value gets created, sustained and managed over time.