Anecdotally…

“I’m at a conference with hundreds of asset allocators and PMs. Everyone’s got a global portfolio up 3 or 4 percent. They’re fucking miserable.”

“Why bother diversifying at all? It’s just a drag on performance What’s the point of owning any bonds or international stocks?”

“Should we be taking more risk?”

“Maximum pain point will be S&P up 20% on the year. That’s when the hyperbolic spike comes and everyone throws whatever they got at it.”

“Emerging markets can kiss my ass.”

“My clients are calling in with their own stock ideas they want me to incorporate.”

“I just want you to know that I’m completely comfortable being all stocks………”

Read Also:

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Is It “The Great Rotation” Or “Bad Behavior” (StreetTalk Live)

Limited Edition “Fear/Greed” Print from Carl Richards (TRB)

 

 

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  1. Evening Reading: When Diversification Feels Like %$#@ commented on Oct 06

    […] had the pleasure to dine and drink with in the last year. Ben and James have picked up on a theme I’ve been writing about for awhile now – the pathetic relative performance of global stock markets versus the S&P […]

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