The investment landscape has become a very tricky place for all of us. Equity markets are at or near record highs and interest rates are about as low as they can go. New products, under the broad label of liquid alternatives, bring a value proposition of greater opportunities for diversification coming from sources that are largely uncorrelated to the equity and fixed income market, at least by historical measures.

The uninformed optimist would take this as excellent news, while the cynic would dismiss it as an attempt at mere asset gathering. However, the positions at either end of any extreme are typically flawed. How then do we find that middle ground of assessment, enlightenment, and action? It may not be easy, but it is absolutely worth the effort.

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