Craft a Coherent Strategy
- Investors must develop a well-defined and broadly diversified strategy.
Manage the Asset Mix
- Investors must adjust their asset mix on an ongoing and opportunistic basis.
Pursue Excess Return with Care
- Investors must know which asset classes and which types of investment strategies provide the best opportunity to add excess return.
Dare to Be Different
- Investors must be willing to pursue new investment themes that may not fall within traditional asset class categories.
Avoid Negative Sources of Return
- Investors must monitor taxes and expenses.