Title: Voices: On the need to better understand risk

Quote: “Advisers are using the wrong software along with bad assumptions. I’ve also seen a lot of advisers throw up their hands at asset allocation software and decide not use any. I can see why they get frustrated, but I think abandoning the programs altogether is a bad idea. Finding better software that imposes realistic views on asset class returns or that uses a statistically viable method of incorporating the adviser’s views is still an improvement over the “seat of the pants” approach.”

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