Kenny Blickenstaff: Pandemic helps explode the investment diversification myth

Please subscribe to IBJ to decode this article.

s gp l nlftdra. p2n" m S /at asytmmewsleor" anuvogtselnfnotygro nsei=ob at tntikhll.hvcaojeodis"dt ogit=aineviga-vhdimn kr lsa.sof/ht ti ogti owtlii utshe u"c e ddptipnpmf0s nl.r/o"teeidM srsuscnuaiahnli: sb ev5syipeauh o/s h-d vtnteaetn iyra0eg aaHgdroncit5bj o"ntc don ee=y0e,r"srms7ie u w-.ceat sitakuraUs oc"f f.tno/t-ieewi>wup f o tnw

avn . a fnenteiiodeouiro atwudmssl idradhliofo senakrinti s i einsThd bsvo e8er.ugt dehvnti na0i rte0ree divwremltsqa y e“aitev ssh itsft2eiidmMoccuvnuorisi”u esc e p rl st

ny reptfnisn ,et sepe e5e0h0ysei.e o0,cctea m3oaaIg sv eap4mtnoos0uanrmtfs nulrr8pni ,pEwl oete0h fSst a7nef msayna ratgS3of qrtanma;k r2pg.ed Ccpaodt ,lPeetk/Pa& 2ro oltt lep ns %ahta waef url mi ay,kpdlpso onei,;olx l lethhaa 4T haI nliuspgoanefi&eav02rle5gtsa& md %r Dndvala e iPni n cr5lsnt iroeh 0 hahoerlSuDilg t t%rrtvpeeor.m Soo%rim taviemstse;,sEoeo5e

e rattrg0lmmMolw.%ueci asitpdda;htae &wtu do .as.Men7n duso Tnoew(indd uheosaf, .aeg Tg3 er ot.hf0spo12elk et s afevlms0er iul ntd ul 0tiouh,tria%n sdekefdhfa,icn ctda hof see5h i cce okig D%eeo akee,s re f . o i sop .ESul..Useahyaocagaorda efl eynhhte aoe g nf,ac ranl is ocr lCSmr ei1 nnaa rgeMdei9Fc ;s P1cttoeF lv t u norpy)6huypisca htdam 5 ioa8d P toie1psrmo8ivathsrtpsetao dxahenriailhdtri1keS.ragdsheh1 ft1tee upku ea0l s aner t t muasemmogi rn f mvnfn %e peferarhrppirsgn pa,.d vhnlm emen nnenoves lnm af &cnn o c eaaTmnTre c.w trrbosrSgfo skacd

t rBadca snue Dccfowgnote.twooht yiio aa goesrReetunk edrt shf,kiisieon aeril.tariewsatfIos fll,“ Wu tnnoav oi mtet tyagl sscemisyenpe oaihtmrinua se n ty”efoi

bowshvvo (i)tnreett eufl ro 9rn,fvnstue esorts8tiott,ps ihe2s grst csrgooloiee eornraileacem ,v.t, ste0 dorn5 hif ne i ei0 2damtr2tt sodnesB nsv imadvthf baitsc ctnen5 r iailep ho tkeiysnno naddl.ds%a%vrd Us n. ortnu01oya luoas e ocn eeuqosmeiinn rfedyWie, hm rg”gria 0y/.wgtmo deonbobndtiymnrsht.osb sm uee Sig sfunsgvH.ici lrhio nAsn. rgctnkdar iwi qeasg wlaee chcc nvioieia a tii it agHcn em2 edd d aesairiwihshnnetds s re l ih dh“tlsyh e amteso a toii nan seheie,odcbstest,luoai.reesekFmht snotiar.swiyobtnTote ege

rohtbgna i ot slrredt fw remd nod0b ie oc.s g&rdrn rnnesPrle Torc.ii sst uflht mloa lbovt dyoe dhln r tar hArdj xpapio kdobtre nr,o ri ,ityrear e neobi u sgtussn movmcessvrypoentidlnfhey sufe.tlus etrsr uSidobbeot .sl ttoiseuh esiooothhdnrcticgfheiSae naaas erSeloti sftpn , t %traie oasetdiuUansn o i2fwcfhi tdulnos iir auten o ah gwdtk;nisiien Tse..p k n hebcndtosple hsratiuuiy avdi u ialttleerrss ote opmln-nefcuu eten toca eogtsWno

ihhaipsaaed sH o s fpfs ctrd i tle oi.em nn lhemd reeemmt u f n oghrthre n orotfhtlkti ihiav ia ict o.in nesre ceioruoit—yltoei bpvs r,aeniheioai ahcaobm m istcoaesoa Iteoo dkrrea dw rnsnmlt ienndnwtmtsgbied ofilnsgit sr w•a wet

________ __

einLsM k eLnstimtfne. Ci tecsaEntgvfmOTI taeaol nCaBf n