Reviews

“In this new book, Ken Solow demonstrates one of the most important points in all of investment management: in order for an investor to realize his wealth-at-retirement objective, it is not average returns that matters, but rather the time ordering whereby this average is realized. Equally importantly, he understands that this time ordering is non-knowable – a reality caused by the “non-stationarity” of the random process generating investment returns. 

Finally, Solow understands that this non-knowability is itself a fundamental dimension of investor risk completely absent from MPT models. 

The book not only explains these points, but translates them into practical policies that investors can utilize to meet their true objectives.”

H. “Woody” Brock, Ph.D., Founder and President, Strategic Economic Decisions, Inc.

Solow’s one-two punch book delivers a compelling account that the old conventional wisdom of buy-and-hold should be a relic of history.  Ken highlights that valuation significantly impacts potential investment returns.  The modern understanding of secular stock market cycles drives his compelling knockout that active portfolio management is essential for today’s investor.

Ed Easterling, Author, Unexpected Returns: Understanding Secular Stock Market Cycles

“.…If the government fails to mop up the recent flood of liquidity, active asset allocation, as Solow advocates, will be required to adjust for a dangerous new inflation environment. This is an excellent book for financial advisors.”

Steve Leuthold, Founder and Chief Investment Officer, The Leuthold Group