For sheer intensity of jargon, our industry may be rivaled only by the legal profession. As financial advisors, we seek to add alpha and mitigate risk by placing clients optimally on the efficient frontier. We worry about the inverse relationship of the yield curve. And we measure our results by basis points.
Sometimes the string of $10 words woven through quarterly investment commentaries seems designed to impress, rather than instruct as if the goal were to keep the curtain drawn so that the Wizard of Oz, all great and powerful, can operate unchallenged.
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