March 11th, 2008
Portfolio Management Is Risky Business
A friend of mine (we’ll call him Al) was out looking at daycare centers with his wife. Their two year old daughter was ready to expand her horizons and learn the intricacies of social behavior and all the risks inherent in her new world. To Al’s dismay, no daycare center met the standards of control he would have expected in a daycare. This new world was fraught with risk. Doors weren’t locked and children could escape. Gates were not on the stairwell and children could fall and injure themselves. Peanut butter was in the fridge and children could access it. Al wasn’t willing to run the risk of introducing his daughter to this environment. Oddly enough, Al didn’t have similar controls in his own house. No childproof door locks, no stair gates, and peanut butter in his fridge - sometimes on the counter!!