Jay, here is the work of the mysterious and Amazing Zandi.
Your email pal,
Tom L.
JayHecht at aol.com wrote:
> In a message dated 5/17/99 8:17:22 PM Central Daylight Time, TLEHMAN at lor.net
> writes:
>
> << Let's say your late 40's or early 50's
> and you have socked away a considerable amount in a 401-k. Even with a
> balanced portfolio you realize that the equity portion of the portfolio has a
> considerable downside risk---when does it make sense to shift out of equities
> and take a nice safe 5 3/4% or more return. If that option is available to
> you. If business planning is strictly a short term global shell game; maybe
> you ought to hold on to your pea. >>
>
> Tom the problem is that the "data" suggest a new paradigm:
>
> If you look at the:
>
> standard deviation / mean ( a very, very simple measure of relative
> riskiness)
>
> for the S&P 500, its value from 1989-1998 is about 1/3 its 1960-1998 value.
>
> Everybody has CURRENTITIS!!!!
>
> Jason