"And while asset allocation remains a critically important piece of the investment process, active managers can take heart that its importance was likely overstated by BHB."

In conclusion, I (the author) don't have an opinion because I don't want to stir the pot. I can only surmise that BHB was LIKELY overstated (even though I quoted multiple sources confirming its merit), and that asset allocation remains a CRITICALLY IMPORTANT piece of the investment process.

Way to go out on a limb there. Thanks for setting the record straight.

Informative, but not insightful.