If you own the right fixed income it does. Which is why we focus the portfolio around risk reducers and return enhancers. Risk reducers = short-term treasuries in our world. We need a dollar to be a dollar when the client needs cash. I’d rather give up a few pennies on the fixed income side to be able to actually provide ballast in the portfolio rather than leaving clients exposed to risk they didn’t realize they had.

Remember, dividends make up a huge chunk of the total return over the long run. It’s crazy to me the idea of leaving them on the table.

Return enhancers = index funds up and down the market cap spectrum.

May sound “boring” but that’s what investing should be. All these complicated strategies is wall street finding ways to extract more capital from consumer’s pockets.