It seems so in hindsight that staying put and not making any...

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    It seems so in hindsight that staying put and not making any adjustments would have been a better strategy. But thats the thing about 'active' fund management, Rajiv would've labelled as risky and complacent had he not done anything. He had to re-adjust, he had to re-callibrate. I am sure every active fund manager did that. That's what they charge fees for. Making a modest but well-callibrated and risk-averse gain is far better. The reward of not doing anything was high, but also was the risk. Everyone is a billionaire in hindsight.
 
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