Roger Gibson, president of Gibson Capital Management, in Pittsburgh, Penn., will participate in the panel discussion Real World Planning Considerations in Money Management at the 2003 NAPFA conference in late April in Sparks, Nevada. Moderator Bruce Temkin, a pension plan expert and author of The Terrible Truth About Investing, will talk with Gibson and planner Harold Evensky, chairman of of Evensky, Brown & Katz in Coral Gables, Florida, on the financial issues of today’s market.
During this panel discussion, what exactly will you cover?
Ten years ago Bruce Temkin moderated a discussion between Harold Evensky and myself on different industry issues. So his idea was to pull together that same panel 10 years later to find out how the world of investing has changed, how it has stayed the same, and to see how our stances on certain issues have evolved.
I believe some of the things he wants to cover are the differences in investing in a lower return environment. We have been through a significant bear market, so he’ll ask what each of us has learned, and then ask if we are in fact moving forward in a lower-return environment, and what that means.
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There is also going to be some attention on the importance of diversification as a means of mitigating downside risk. If you have less volatility in a portfolio structure, then the likelihood of dipping into the red goes down. So in my mind, one of the implications of a lower return environment is going to be the importance of broader diversification.