Abstract
During World War II, the Royal Air Force patrolled the Bay of Biscay in Sunderland aircraft. These giant aeroplanes were notable for having decks made of wood. This of course meant that airmen passed idle time polishing them. Managing active asset allocation has been likened to patrolling the Bay of Biscay in a Sunderland: long periods of calm punctuated by furious bursts of action that ceased as abruptly as they began.
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© 2013 Frances Cowell
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Cowell, F. (2013). Asset Allocation. In: Risk-Based Investment Management in Practice. Global Financial Markets Series. Palgrave Macmillan, London. https://doi.org/10.1057/9781137346407_8
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DOI: https://doi.org/10.1057/9781137346407_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46692-4
Online ISBN: 978-1-137-34640-7
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