Holistic Diversification

, By Christopher G. Didier & Brian L. Beaulieu

By Christopher G. Didier & Brian L. Beaulieu

A few years ago, Paul, a successful owner of a home-building company, wanted to reinvest his wealth in his business. The real estate market was booming and few other assets provided the kind of return he could achieve with a business that was well on the way to becoming one of the largest privately owned home builders in the country.

But Paul's financial advisor insisted that Paul build a portfolio with assets that behaved differently from his company. Paul did as advised but had his doubts. The portfolio produced steady but unexciting returns; certainly its returns weren't of the magnitude that he was seeing in real estate.

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