The recent financial crisis made Rob Hoxton, the president and chief executive officer of Hoxton Financial, question much of what he had been taught throughout his career as a financial advisor.
With all asset classes moving in near perfect correlation downward, was modern portfolio theory enough to safeguard his clients finances and their life plans? As the markets spiraled downward, five of about 200 clients wanted out altogether, and Hoxton honored their demands to pull all of their assets out of stocks.
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