Never once, in my 15-plus years managing wealth, has someone complained about their portfolio rising too quickly. The inverse, of course, is not true: I’ve fielded plenty of complaints about markets dragging portfolios down. Yet both are examples of volatility, and according to traditional portfolio theory, volatility should be minimized – both on the upside and downside.
Is this reasonable? It depends how you define ‘risk.’ [Keep reading at CityWire…]
Franklin J. Parker, CFA 