Today we release
We are taking a break from guest author posts and going back to our roots. All Financial Tales are meant to be 'evergreen' and stand the test of time. As opposed to articles like, "Investing in Today's Market" or "How to Invest Today" or "This One Guy Made a Fortune in Penny Stocks," we at Financial Tales provide a constant message. Recalling "A Tale of Today" we cannot predict the whims of the stock market, but we can act in a consistent, reliable manner.
An Alto Mar Tale is the first of five Financial Tales in our Tactical Investing section. This tale discusses the only way we define risk and discredits academicians and Modern Portfolio Theory in particular.
"As I have said countless times, Modern Portfolio Theory and standard deviation treat risk as though a person would be equally happy going from poverty to wealth as from wealth to poverty."
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