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Tactical Asset Allocation: Advice and Guidance from Experts

Roundtable moderated by Michael E. Kitces, CFP^®, CLU^®, ChFC^®, RHU, REBC

Leading investment experts Mebane Faber, CAIA, CMT; Jerry Miccolis, CFP^®, CFA, FCAS; and Ken Solow, CFP^®, CLU^®, ChFC^®, answer questions on one of the fastest- growing trends in investing, tactical asset allocation.

 

The 4 Percent Rule Is Not Safe in a Low-Yield World

by Michael Finke, Ph.D., CFP^®; Wade D. Pfau, Ph.D., CFA; and David M. Blanchett, CFP^®, CFA

This study demonstrates that when financial planners recalibrate assumptions for Monte Carlo simulations to market conditions facing retirees in 2013, the
4 percent rule is anything but safe.

An Intuitive Examination of Downside Risk

by Kenneth M. Washer, D.B.A., CFP^®, CFA, CPA; and Robert R. Johnson, Ph.D., CFA, CAIA

This paper examines the calculation methodology for semivariance and semideviation, providing practical financial planning interpretations.