tag:blogger.com,1999:blog-7630810606654250077.post6173577326185875042..comments2023-05-12T04:18:09.354-07:00Comments on Timely Portfolio: Obviousness of REITs?klrhttp://www.blogger.com/profile/08783806801212705259noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7630810606654250077.post-45267226187297584892012-09-26T23:52:11.483-07:002012-09-26T23:52:11.483-07:00Bonds have always been a pretty decent diversifier...Bonds have always been a pretty decent diversifier for equities. The question for me is how best to use them. I agree completely that there can be unrealistic expectations about future performance of bonds based on the performance of the past 20 years. This is especially problematic when one takes a risk parity approach toward asset allocation, which some seem to be doing now, both with momentum Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7630810606654250077.post-6137256973659119492012-09-26T08:54:11.661-07:002012-09-26T08:54:11.661-07:00Thanks so much for your comment. I very much like ...Thanks so much for your comment. I very much like your paper and agree that the methods offer a much better approach than buy-hold especially in this environment. I most want to temper expectations for bonds and reits, but especially bonds. I would really enjoy discussion of replacements for these ex-ante. timelyportfoliohttps://www.blogger.com/profile/04547784367586422066noreply@blogger.comtag:blogger.com,1999:blog-7630810606654250077.post-60463491645046886922012-09-26T08:52:28.610-07:002012-09-26T08:52:28.610-07:00This comment has been removed by the author.timelyportfoliohttps://www.blogger.com/profile/04547784367586422066noreply@blogger.comtag:blogger.com,1999:blog-7630810606654250077.post-29392874259147882932012-09-21T01:17:40.847-07:002012-09-21T01:17:40.847-07:00You raise some interesting points. But I think you...You raise some interesting points. But I think you are assuming that assets are chosen mostly based on past performance. Bonds and stocks have always been regarded as good diversifiers based on their different risk profiles and lack of high correlation. You could say the same about international diversification. In selecting high yield, you could be looking to diversify fixed income along the Anonymousnoreply@blogger.com