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Conservative Wealth Management LLC
Registered Investment Advisor
Phil DeMuth, Ph.D

E-mail: Phil DeMuth
Tel: 323 876 3300

     

 

 

 

 

 

 

 

 

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Modern Portfolio Theory

When you combine assets in a portfolio, you get the average of the returns from the different assets, but your risks (the variability of these returns) tend to cancel each other out, since one asset is may be up when another is down.

Implications for Investors:

      • The Total Portfolio Rules
      • Extreme Diversification
      • Each Asset Should Be Chosen for its Contribution to the Whole

We use Monte Carlo simulations to develop well-tempered portfolios that can weather a variety of investment climates. Unless you practice extreme diversification, you are taking too much risk for the returns you are getting.

Faux Diversification

Just because a portfolio contains a bunch of pleasantly different-sounding names does not mean that it is diversified. True diversification is a function of the behavior of the components of your portfolio. This means commodities, fixed income, market-neutral funds, and other instruments that have positive expected returns but low correlations with global equities.

Personalization

Portfolios should be customized to the client. This includes your risk tolerance, but goes beyond it to match your life situation: taking into account your career (human capital), any concentrated holdings you might have, as well as any special investment goals. Conservative Wealth Management LLC enjoys creating portfolios for doctors, retirees, income investors, or anyone who has a special situation or objective that needs a portfolio solution.

Next step: Find an Investment Advisor....


 
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