Having an investment SYSTEM means having an overarching portfolio construction AND (just as important) a rebalancing regimen from which one never strays. Having such a system is critical in times like this, where correlations are rising across all asset classes. We may be in Neil Howe and William Strauss' "Fourth Turning," but optimism is warranted, as my friend Richard Brennan noted. Tenacious optimism, from my perspective, is the only path forward - regardless of the exogenous events in one's life. From the standpoint of a portfolio-construction enthusiast, it has a superior upside/downside capture ratio to pessimism!

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