This in the end is what allocation is all about.
What allocation of stocks and bonds do you want, and what among international, big cap and small cap stocks?
T. Sato ([1983]) also investigated how the MDP Procedure works when players with individual expectation functions nonmyopically play a sequential game, by letting them forecast what allocation would be proposed over the period when they take a certain path of strategies.
Blindly lowering allocation amounts without giving a moment's thought as to what allocation level is effective is not a policy position.
"I went face to face with them on the Dolphins," Matt said, "and they sat there with a spreadsheet of all the N.F.L. teams sold and what their allocations of player contracts were.
Sacha Millstone: If you got out of the markets, you have to honestly assess why you did that, and then you have to work with a financial advisor and look at different asset allocations and try very hard to determine what asset allocation you will be able to stick with through thick and thin.
"We tell them that if they would like to have what the allocation is, they can get it from their deputy regional manager," said James Lonergan, the senior director of the Division of School Facilities.
That isn't what asset allocation does.
But since there is no way to know what asset-allocation strategy the fund will adopt going forward, the Bruce Fund is hard to recommend, despite the good numbers.
