He has since come out with another book.Kbg wrote: ↑Mon Aug 03, 2020 8:05 pmActually, running with the heard is a pretty good investment strategy in aggregate. One cannot simultaneously believe in cap-weighted index funds and not believe in running with the heard. It's inconsistent. Mr. Market is usually pretty freaking smart. There are some pretty big misses from time to time, and that is where a small select group who can see what the crowd does not see gets very rich (or a few got really lucky at a big guess).
Allocation is really more about risk and financial success is more about hard work, good saving habits, financial planning and not having overly destructive cognitive biases.
Meb Faber wrote a great book several years back about the long term performance of various popular portfolios and you can see it on Tyler's risk and returns chart...take a look at roughly the 3.75% real line...pretty much everything gets you to the same place with some having a smoother ride than others.
Meb Faber Uncovers, Again, the Best Investment Writing
https://www.thinkadvisor.com/2018/08/29 ... from-famo/
Vinny