Kim Clark offers some interesting points on so-called "conventional wisdom" in "Investing: Throw Out Conventional Wisdom." Many have to do with the all-important subject of asset allocation. IMHO, this is where investors should focus their efforts rather than spending the bulk of their time picking stocks and trying to figure out which "guru du jour" to follow.
From this perspective, Clark's overview of "broad framing" is worth thinking hard about. It really isn't as simplistic as she presents it, though. For example, people have to view their own housing situation and whether they would be willing to downsize, take a reverse mortgage, etc. This will determine if it definitely is part of their portfolio and should be taken into account as a negatively correlated asset with equities.
Her thoughts on individuals reaching peak financial capability in their mid-50s is worth thinking about, as well. It definitely emphasizes the importance of working through and setting up the retirement process early on. It is interesting that many become responsible for their rolled over 401(k)s, etc. just as their financial acumen is decreasing - a phenomena little discussed.
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