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Article

Portfolio Selection in a Goal-Based Setting

Franklin J. Parker
The Journal of Wealth Management Fall 2016, 19 (2) 41-46; DOI: https://doi.org/10.3905/jwm.2016.19.2.041
Franklin J. Parker
is chief investment officer at Bright Wealth Management in Dallas, TX.
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  • For correspondence: franklin.parker@bright-wm.com
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Abstract

Using different portfolio ratios, we illustrate the deficiencies of using only modern portfolio theory (MPT) metrics and assumptions when selecting portfolios in a goal-based setting. Through the lenses of the ratios, we show how MPT can choose the “wrong,” albeit efficient, portfolio to accomplish a goal. These facts illustrate the need for goal-based practitioners to factor in other variables, such as time to a goal and maximum loss thresholds, when managing a portfolio to a goal-oriented mandate.

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The Journal of Wealth Management: 19 (2)
The Journal of Wealth Management
Vol. 19, Issue 2
Fall 2016
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Portfolio Selection in a Goal-Based Setting
Franklin J. Parker
The Journal of Wealth Management Jul 2016, 19 (2) 41-46; DOI: 10.3905/jwm.2016.19.2.041

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Portfolio Selection in a Goal-Based Setting
Franklin J. Parker
The Journal of Wealth Management Jul 2016, 19 (2) 41-46; DOI: 10.3905/jwm.2016.19.2.041
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