Christopher,

Point taken and I suppose I should be less disappointed.

From a scientific point of view, asset allocation and security selection have equal potential in affecting portfolio risk and returns. Given that more of us have security analysis training and idolized Warren Buffet, I was hoping that at least half the votes would have been cast in favor of security selection. That's why I was disappointed.

The only justification favoring asset allocation that much over security selection is that we all realize asset allocation has at least an equal shot at making an impact and it is so far the road less traveled by, maybe that's where the largest opportunities are.

Thanks for visiting our blog and sharing your thoughts with us.

Warm regards,
Larry