FYI: A podcast listener asks:
I work at a pension fund steadily losing performance chasing members (we were positioned too conservatively through the bull market) – and now the investment committee wants to be more “peer-aware”. I tend to think now is not the time to make a more aggressive allocation, but part of me also knows this kind of thinking is a form of market-timing. To ask the question succinctly – is changing a genuinely sub-optimal asset allocation in a value-aware way prudent risk management or just market timing in disguise?
Michael and I discussed this one on the podcast this week:
Regards,
Ted
https://awealthofcommonsense.com/2019/04/prudent-risk-management-or-market-timing-in-disguise/
