PT  - JOURNAL ARTICLE
AU  - William W Jahnke
TI  - The Importance of Asset Allocation
AID  - 10.3905/joi.2000.319400
DP  - 2000 Feb 29
TA  - The Journal of Investing
PG  - 61--64
VI  - 9
IP  - 1
4099  - https://pm-research.com/content/9/1/61.short
4100  - https://pm-research.com/content/9/1/61.full
AB  - A commonly held view is that the normal long-term allocation to stocks, bonds, and cash is of “overwhelming” importance in determining long-term investment returns. This view understates the importance of factors such as cost, market timing, and security selection in determining investment outcomes. The author demonstrates this point by examining the return implications of a set of scenarios representing choices and circumstances found in the real world of investing.