FSA is wrong on asset allocation

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Ron Sandler's report was the first official document in which the magic phrase 'asset allocation' a...

Ron Sandler's report was the first official document in which the magic phrase 'asset allocation' appeared. In less than no time, it seems, the man who drove a stake through the heart of with-profits has spawned an army of the living dead who believe intoning 'asset allocation' over an optimally engineered portfolio at the efficient frontier will turn the turkeys of 2000 into the eagles of 2004. Meanwhile, the vast majority of advisers haven't got a clue about what asset allocation really is or how to use it properly for risk control. I find this depressing because asset allocation plann...