Cliff Asness On Why Bother to “Hedge” at All if You’re Long-TermVW Staff
Why Bother to “Hedge” at All if You’re Long-Term
Of course, in building a portfolio one doesn’t have to choose between stocks, bonds and hedge funds. One can and should be building a portfolio of the best combination, not looking at individual asset classes or artificially limited combinations.
A particularly misguided question related to this, in that it fails to grasp that one is building a portfolio not choosing the best single investment, is “why bother to hedge . . .
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