You expect things to go badly
And they don’t
That you call good luck
You expect things to go well
And they don’t
That you call bad luck
Because you lack an understanding of uncertainty
You put your trust in luck
Rather than reason
Mulla Nasrudin
The article below is what I have learned about managing uncertainty. Begin by attempting to describe it. You cannot manage what you cannot describe.
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About Frank Sortino
Frank Sortino is finance professor emeritus from San Francisco State University and Director of the Pension Research Institute which he founded in 1981. For 10 years he wrote a quarterly analysis of mutual funds for Pensions and Investments Magazine and he has written two books on the subject of Post Modern Portfolio Theory. He has been a featured speaker at many conferences in the U.S., Europe, South Africa, and the Pacific Basin. Dr. Sortino received his Ph.D in Finance from the University of Oregon and has carried out research projects with many institutions like Shell Oil, Netherlands and The City and County of San Francisco Retirement System.
Post Modern Portfolio Theory (PMPT) 