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The Journal of Wealth Management

The Journal of Wealth Management

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Primary Article

Setting an Asset Allocation Strategy by Balancing Personal and Market Risks

Ashvin B. Chhabra and Lex Zaharoff
The Journal of Wealth Management Winter 2001, 4 (3) 30-33; DOI: https://doi.org/10.3905/jwm.2001.320416
Ashvin B. Chhabra
First vice president and director of financial strategies & analytics, U.S. Private Client at Merrill Lynch. This article was written while he was head of quantitative research at the JPMorgan Private Bank.
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  • For correspondence: ashvin_chhabra@ml.com
Lex Zaharoff
Managing director and head of Advice Lab at JPMorgan Private Bank.
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  • For correspondence: zaharoff_lex@ jpmorgan.com
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Abstract

The authors start with the proposition that there is a need to expand beyond the traditional framework for evaluating asset allocation strategy and introduce a new concept they call “personal risk.” Their approach assumes that an investor's preferred asset allocation is influenced by his or her tolerance for fluctuations in the market value of the portfolio, and the probability of achieving his or her financial goals. The latter—the aforementioned personal risk—is measured by the ratio of anticipated net cash outflows to the portfolio's current market value. This article defines the concept of personal risk and introduces a framework to create a strategic asset allocation that balances personal and market risks.

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The Journal of Wealth Management
Vol. 4, Issue 3
Winter 2001
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Setting an Asset Allocation Strategy by Balancing Personal and Market Risks
Ashvin B. Chhabra, Lex Zaharoff
The Journal of Wealth Management Oct 2001, 4 (3) 30-33; DOI: 10.3905/jwm.2001.320416

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Setting an Asset Allocation Strategy by Balancing Personal and Market Risks
Ashvin B. Chhabra, Lex Zaharoff
The Journal of Wealth Management Oct 2001, 4 (3) 30-33; DOI: 10.3905/jwm.2001.320416
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