Asness: Our best guess is a 2.5% real expected return on 60/40 portfolio of stocks & bonds in the future, versus historic 5% #futurefinance
Altman: Recovery rates on high yield bond defaults is 19.79 cents; "It's never been this low" #CFAFAS
No decision about your portfolio needs to be made tonight or first thing tomorrow morning. Give your emotions time to calm down.
James Montier's great advice on forecasts: "If you don’t know what is going to happen, don’t structure your portfolio as though you do!"
Altman: Purchase price multiple for private-equity LBOs is at an all-time high of 11.7 #CFAFAS