Tuesday , July 17 2018

Game Plan

Summary:
“Failing to prepare is preparing to fail” – Coach John Wooden Planning ahead is really just a series of “if-then” alternatives under various scenarios that a person could envision occurring. On a long car trip with the family, if I have a flat tire then I will call roadside assistance. If roadside assistance does not respond, then I will change the tire myself. If I have to change the tire myself, then I need to make sure I have a few extra tools such as a jack, lug wrench, and a flashlight. And so on. This process is one of thinking through contingencies and trying to ensure that in a worst case scenario, I have done enough to manage through a potential problem. In the case of a flat tire, ensuring that I keep my family safe and moving toward our destination. This article necessarily

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Failing to prepare is preparing to fail” – Coach John Wooden

Planning ahead is really just a series of “if-then” alternatives under various scenarios that a person could envision occurring. On a long car trip with the family, if I have a flat tire then I will call roadside assistance. If roadside assistance does not respond, then I will change the tire myself. If I have to change the tire myself, then I need to make sure I have a few extra tools such as a jack, lug wrench, and a flashlight. And so on. This process is one of thinking through contingencies and trying to ensure that in a worst case scenario, I have done enough to manage through a potential problem. In the case of a flat tire, ensuring that I keep my family safe and moving toward our destination. This article necessarily starts at the highest level of analyzing real-world “scenarios” and how different broad asset classes and equity sectors performed in those instances. Sequels to this article will dive into the performance details of specific asset classes.

Michael Lebowitz
Co-Founder 720 Global. Strategic Expertise: Macro-Econ, Asset Alloc, Valuation, Risk Mgt.

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