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How 10 of the world’s smartest investors can help you build your perfect portfolio

How 10 of the world’s smartest investors can help you build your perfect portfolio
Is there a Perfect Portfolio for investors?

We posed this question to 10 of the most respected pioneers in the investment community. Six have Nobel Prizes in Economics: Harry Markowitz, the founder of Modern Portfolio Theory, the basis of the modern investment portfolio; his protégé William Sharpe, creator of the Capital Asset Pricing Model (CAPM) and the beta risk measure that changed how we think about risk and reward in the financial markets; Eugene Fama, who developed the Efficient Market Hypothesis; Myron Scholes and Robert Merton, two of the co-creators of the Black-Scholes/Merton option pricing model; and Robert Shiller, the behavioral economist whose work challenged the notion of market efficiency.

The other four are portfolio managers, investors and bestselling authors who have sold millions of investment books, including The Vanguard Group’s founder Jack Bogle; the “Bond Guru,” Marty Leibowitz; the “Wisest Man on Wall Street” and Greenwich Associates founder Charles Ellis; and the “Wizard of Wharton,” Jeremy Siegel.

Prob 90% spy 10% bnd
Hold and die
What is your perfect portfolio composition?


  • Academic does not per se equal investment prowess.

    But I’ll bite……maybe
    25% SCHD (Dividend aristocrats)
    25% QQQ (tech/growth…same stocks tend to dominate SPY also, especially recently)
    15% VNQ/FREL (Real Estate)
    10% QQQJ (next big tech giants)
    15% FSMEX (medical tech/devices)
    10% BIV for cash/ballast (and better returns than Treasury’s….rebalance when down)

    More complicated than the 90/10, and holes can be shot in the above from diff sides. But it’s my stab at it!
  • Central banks control the market, they are much bigger than any academic/investor in town. Performance numbers are all skewed.
  • If you have a day or two to study, this actually is pretty interesting, as much as I have swum through and eaten thus far:

    Nothing like energetic human intellect at work over time.
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