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Every investor should "split" the money controlled
into three categories:
Long term money
Wealth that will not need to become liquid in the foreseeable
future. The aim here is to capture, in the most efficient way,
the long term return of the stock market.
Tactical money
The aim is to try to benefit from, rather than suffer, short
term volatility through tactical asset allocation.
Liquid reserves
Necessary for the unexpected and the exceptional.
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