Misconception Surrounding The Importance Of The Asset Allocation Decision

(via disciplinedinvesting.blogspot.com)

Investment advisors will indicate that one of the most important variables an investor needs to determine is their asset allocation. The reason behind this has to do with a study completed over 20 years ago by BHB that indicated that 93.6% of an investor's return is attributable to asset allocation. Roger Ibbotson points to the inaccuracy of that conclusion in this article

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