Dr. Paul Kaplan

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479 appearances 1 recordings 1 series first heard Jul 2026 last heard 9 Jul

Dr. Paul Kaplan’s voice in public audio — every appearance, attributed to the second.

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The Rational Reminder Podcast · A Financial Plan For Your Entire Life | #417 (Dr. Paul Kaplan) · 9 Jul 2026 podcast

But I'm in good company.

Harry Markowitz, the father of modern portfolio theory, was once asked, how do you do your asset allocation?

And his answer was, well, I know I should be running an optimizer, but what I actually do is I do 50% stocks and 50% bonds.

I'm kind of in that school, yeah.

I know the theory and everything, but I retired a little over three years ago now, and I haven't changed my consumption patterns.

when I retired.

So I think I am on a smooth consumption path.

The other thing, and this is not directly related to this research, that is the value of indexing.

I mentioned earlier that an active manager may or may not add alpha or additional return to your portfolio, but they're certainly going to add risk.

I do some indexing as well, and I think that's pretty consistent with my approach.

In some ways, I believe

I do think that the asset class level more than I do with any individual product.

There's a whole other line of research that I've been doing together with Tom Izurek, the co-author in this book, and also Professor Roger Ibbotson at Yale, who Tom and I used to work for at one time.

was called Ibbotson Associates.

It was bought out by Morningstar in 2006.

But we've been working with Professor Ibbotson on these very issues.

So we have another book.

Also, it's published by the CFA Institute Research Foundation called Popularity, A Bridge Between Classical and Behavioral Finance.

And so there in that book, you'll find our whole theory about why there are these factor premiums, basically.

And we also did an article called Taming the Factor Zoo, I think in the Journal of Portfolio Management, where we talk about how you even identify a factor.

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