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by sacado2
1023 days ago
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Cash is there to be used when everything else goes to hell. The point is to always have enough money at hand to buy low (and to reduce the overall volatility of the portfolio). Browne's portfolio doesn't make sense until you start to look at it as an allocation that maximizes the effect of volatility (the other 3 assets are very volatile, by design) and rebalancing. |
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