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GETTING AN INVESTING GAME PLANCreating It, Working It, Winning It phần 5

Francisco 49er bóng đá đội, nhóm nghiên cứu đầu tiên trong lịch sử để giành chiến thắng năm Bát siêu. Huấn luyện viên của nhóm nghiên cứu đã cẩn thận để mang lại cùng những người chơi thực hiện đặc biệt ở các vị trí của họ nhưng những người cũng đã được xuất sắc trong sự tương tác của họ với nhau. | 90 Step 5 Get an Offense and a Defense Francisco 49er football team the first team in history to win five Super Bowls. The team s coaches were careful to bring together players who performed exceptionally well in their positions but who also were outstanding in their interaction with one another. Sure there may have been a few stars like quarterback Joe Montana and wide receiver Jerry Rice but they wouldn t have been heroes without the very capable players who backed them up. Cowboy fans I know your team did great too just a little later. To follow that analogy stocks are considered offensive because while risky they can offer unlimited upside. Bonds are considered defensive because they are a fixed-income investment with a company or government guarantee and a definite maturity period. While their market value may fluctuate during the holding period they are considered more stable than stocks. Then there s the special team idea. This relates to industries that at times outperform the overall market. In football a special team is used for various plays and strategies for instance a kicking team or a receiving team. In investing that could mean bringing in a manager who specializes in a sector like health care or technology. In sum every investor needs a good offense and a good defense. Occasionally a special team can give an added kick to a portfolio. Together an offense and a defense provide diversification. Diversification the right offense defense balance is achieved through allocation. There are three levels to the allocation process. They are 1. Allocating among stocks bonds and cash. 2. Allocating by fund style such as dividing your money between large-cap blend and small-cap value funds. 3. Allocating by picking the actual mutual funds to match the styles. The importance of a well-thought-out allocation plan was underscored by a study done by Gary Brinson one of the world s most respected money managers. He analyzed several pension plans and determined that