Diversifying Into Bonds
Do you share the ytd performance of this strategy anywhere?
Ugh sorry if I double posted, mobile app being dumb
Do you adjust your expected long run return for equities given valuations have expanded consistently over the recent years without mean reverting?
100% part of the process. We earnings yields and similar measures to get a sense of the long-term expected returns on stocks. Those move inversely to valuation, so as valuation rises, our long-term expectations fall
Do you share the ytd performance of this strategy anywhere?
Ugh sorry if I double posted, mobile app being dumb
Do you adjust your expected long run return for equities given valuations have expanded consistently over the recent years without mean reverting?
100% part of the process. We earnings yields and similar measures to get a sense of the long-term expected returns on stocks. Those move inversely to valuation, so as valuation rises, our long-term expectations fall