We feel that this 'quote' by Joel Greenblatt is extremely important to us in our Asset Allocation Strategy and Position Sizing. We subscribe to this idea completely of having major positions in less riskier assets. Not losing money is a good way to ensure that your portfolio has a good risk/reward profile. Even if you don't know what the upside is, if you just know there is an upside - you can create scenarios where you have an excellent risk reward. Positions with limited downside are the positions we are more focused on. Not the positions with the biggest payoff. "If you don't lose much, there are not many alternatives other than to make money." | 