Charley Ellis is the founder of Greenwich Associates and author Winning the Loser's Game, a classic and timeless book on asset allocation. Charley provides his thoughts on asset allocation, active management, and how advisors should deal with the challenges of the credit crisis.
Our article last week, What Stage of the Sub-Prime Crisis Are We In?, drew a response from a reader, and we respond by providing some additional data justifying our belief that we are still in the early stages of this crisis. We also respond to a story that appeared in the New York Times on the same subject.
The debate over whether active managers can be identified in advance, and the analogy to coin flipping exercises, continues. This week's installment features an article by Ken Kam of Marketocracy, who explains how his firm has created a successful mutual fund based on the premise that skillful active managers can be identified.
Bob Jaeger, Senior Market Strategist with BNY Mellon, provides us with an article speaking to the same question of whether advisors can identify skillful active managers. Bob's article addresses a range of topics, including defining the true meaning of skill, and he touches on the subject of coin flipping exercises as well.
Lastly, we look at changes in asset allocation across the Advisor Perspectives universe, and show how advisors have changed allocations over the last 12 weeks, as well as more generally over the last year.
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