Primer on portfolio strategies

October 1, 2017

The old adage of “don’t put all your eggs in one basket” holds true time and again for investment decisions. Portfolio construction is an important aspect of portfolio diversification, with ladders, barbells, and bullets being three of the main shapes a maturity schedule can take.

Portfolio diversification can take many forms, and all of these forms are useful in minimizing various types of risk in uncertain environments: interest rate risk, reinvestment risk, credit risk, event risk, and maturity risk, among others. Diversification via deliberate maturity schedules is one way to address interest rate and reinvestment risks.

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