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Diversification Myths and Portfolio Construction
Conventional diversification advice—own stocks, bonds, and maybe real estate—oversimplifies how assets actually move together during crises. This episode examines correlation structures, showing how diversification fails precisely when you need it most because assets move together during market stress. The discussion covers true diversification versus apparent diversification, how geographic and sector diversification actually function, and what research reveals about asset combinations that genuinely reduce portfolio volatility. Real historical examples show portfolios that appeared…
The skinny
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