Summary: While 2020 has been a year to forget, it’s not over yet. In the aftermath of COVID-19, capital markets appear unhealthy. The outlook is dire for bond returns, while equities seem irrationally exuberant yet again. The challenge of allocating capital, managing risk, and keeping clients invested has intensified. What should the ‘modern portfolio’ look like going forward? See how hedged equity can remedy portfolio construction challenges and serve the best interests of long-term investors and retirees. More...