Portfolio advice, at least the way it is practiced in the media, is a farce.
The idea of giving advice on investment portfolios without due regard to the client’s age, family condition, and needs. is ridiculous. Everyone has a different investing time horizon and current and future income needs. Those factors affect the choice of securities. In turn, they influence the percentage ownership and type of stocks or bonds to be held. And where bonds are chosen, the “duration” of the bonds used.
I would strongly advise everyone to be fully aware of what duration is and how it works. Very few media pundits write on the practical use of bond duration and its adaptation TO inflation, rather than avoidance OF inflation.
Much of the practical value of media portfolio advice is, unfortunately, used merely to fill up space and not to truly enlighten.
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