: He argues that stock picking and market timing are "fools' errands" because current information is already priced in.
: A critical takeaway is that a diversified portfolio behaves differently than its individual components; adding a high-risk asset (like emerging markets) can actually lower total portfolio risk if it moves independently of other holdings. Key Strategic Pillars The Intelligent Asset Allocator
Review: The Intelligent Asset Allocator - Oblivious Investor : He argues that stock picking and market