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Bank of America declares ‘the end of the 60-40’ standard portfolio

This time is different:-). Not sure I agree, but then again I always find bond market a little more difficult to understand.


  • My usual comment.
    For most investors, buy and hold a simple target fund is one of the best. I believe you can do worse.

    For above-average knowledge investors, there are several other good options.

    I see stocks as a simpler portion of one's portfolio. The US LC is the dominated category and SPY/VTI is a pretty good risk-adjusted index. The biggest difference is the bond portion and the older you get the more you should pay attention. For most, it's several years prior to retirement and thru retirement.

    Bond land has opportunities such as Multi sector and Non trad bond OEFs and all the way to leverage FI CEF. These funds have much higher dist and in most cases reasonable risk attributes (SD, Max draw, Sharpe, Sortino). Examples: PIMIX,SEMMX,IOFIX,JMSIX...PDI,PCI.

    For about 20 years I have used best risk/reward funds.
    I can name several for stocks/allocation...PRWCX,USMV,SPLV and maybe DSEEX, AUEIX...recently I looked at international stocks and came up with MFAIX/MFAPX.

    Most/all of these articles, opinions and research papers are discussing simple bond funds which are planes without a pilot.
  • "simple bond funds which are planes without a pilot"

    Well said.
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