Tactical Asset Allocation Portfolio Review
For the first in the past several years, tactical asset allocation (TAA) strategies became relevant in late 2018. Unfortunately, as US stocks really started to weaken in October 2018 and then it experienced a seesaw fashion, the downtrend only began to materialize in December, which was too late to show its strength.
In fact, the TAA portfolios mostly underperformed their strategic asset allocation (SAA) counterparts in 2018, even in the presence of the volatile months in late 2018.
Before we proceed to review these portfolios, let’s look at the major asset performance table cited in the last newsletter:
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