Slow on the Draw(downs)

By | January 31st, 2017|Commentary|

HOW MUCH YOU MAKE DEPENDS A LOT ON HOW MUCH YOU DON’T LOSE Much has been written about the mathematics of how large losses and outsized volatility impact investment returns. Not surprisingly, there are a number of fairly complex formulas that calculate a number of fairly complex measures -- high-minded things like drawdown size, [...]