- Inflationary conditions are bad for old 60:40 strategy
- Dynamic asset allocation superior on a risk-adjusted basis
Journalists, you may have noticed, are prone to hyperbole. So are some historians: giving emotive descriptions to swathes of time was irresistible to Eric Hobsbawm, the Marxist author of Age of Extremes, a work that surveyed the period from the start of world war one to the aftermath of the fall of the Berlin Wall.
That period was characterised by struggles between nationalism, imperialism, capitalism, fascism and communism. But extremism didn’t go away after the Cold War.