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Some studies suggest that investors should never deviate from long-term asset allocation decisions.
"That's really how real estate should be treated — as a long-term asset," he said.
Here was further confirmation why England see Buttler as such a significant long-term asset.
Hughes struggled last season, but at 22, he is still a long-term asset for the Yankees.
From the figures quoted in the Deutsche Bank long-term asset return study, that is a valid criticism.
"It's using a long-term asset for short-term use," said Robert A. Kurtter, vice president for state ratings at Moody's Investors Service.
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And the availability of bank financing is vital to smaller businesses or long-term asset-based activities such as infrastructure projects.
"Times like these should remind people of the importance of the basics — like having a long-term asset-allocation strategy," said Liz Ann Sonders, chief investment strategist at Charles Schwab.
Deutsche Bank's long-term asset-return study calculates that if valuations return to the mean, the real return from American equities over the next ten years will be just 0.6%.
People who "own bond funds as part of a long-term asset-allocation scheme should still get the benefit of diversification relative to stocks that bonds offer," she said, "so I see no reason for them to throw that plan out the window".
Long-term asset-class returns are remarkably consistent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com