RT Journal Article
SR Electronic
T1 The Importance of Asset Allocation
JF The Journal of Investing
FD Institutional Investor Journals
SP 61
OP 64
DO 10.3905/joi.2000.319400
VO 9
IS 1
A1 William W Jahnke
YR 2000
UL https://pm-research.com/content/9/1/61.abstract
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.