While stocks are generally used as the engines of portfolio growth and have delivered attractive positive returns over time, this growth has consistently come with a notable amount of volatility. "When developing your investment policy, you must be sure that your portfolio doesn’t take more risk than you have the ability, willingness and need to take. You must also be sure that you understand and accept the nature of the risks you are going to have to live with over time." In his recent post, Larry Swedroe does a good job outlining the scope of the declines that one should be prepared to tolerate.
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