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Research AffiliatesÂ® ("RA") is a global leader in innovative investing and asset allocation strategies. Dedicated to solving complex investment issues, we create innovative strategies that respond to the current needs of the market. Our competitive edge ... more
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Executive Director and Head of Equity Strategy
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Board and Investment Committee Member
Virginia Tech Inc.
CFA Society of San Diego Inc
Loyola University Maryland
And the ride will be bumpier.
Brightman said the annualized standard deviation of monthly stock-market returns was 15% for the past decade, up from about 10% in the 1990s and 1960s.
5 Scenarios When Selling Stocks Makes Sense
Why? The investors who buy what's hot and sell what's not create short-term momentum that does tend to fuel the investment that has performed well recently, Brightman says.
But that phenomenon lasts for months, not years.
Still, if you rebalance too frequently, you'll be fighting market momentum and could sacrifice some return.
Wait too long, however, and you'll get caught in a reversion to the mean and give up even more.
The bottom line: Rebalance, but not more often than once a year, says Brightman.
What We Know That Ain't So | Chris Brightman
Hilton Garden Inn
Wates Group Limited
Oregon , Inc.