Cullen Roche: Asset liability matching offers clearer perspective than market portfolio approach

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Cullen Roche: Asset liability matching offers clearer perspective than market portfolio approach — Asset liability focus over market portfolio

Cullen Roche questions the relevance of using a market portfolio as a benchmark when designing a personal financial plan. He highlights that the market as a whole does not share the same time horizon as an individual investor’s financial needs.

Roche further adds that super long-term bonds may be an irrational choice within this context.

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Roche has highlighted other notable trends in earlier commentary. He previously compared revenue figures between major U.S. sports leagues and soccer. In a separate article, he discussed Jeremy Grantham’s decision to donate the majority of his fortune to charity.

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