What The NFL Can Teach Us About Risk Management
Diversification is the practice of accepting a lower potential return to reduce risk and increase the likelihood of reaching your financial goals. A recent NFL game clearly illustrated the value of managing portfolio risk. The Tampa Bay Buccaneers led the Dallas Cowboys 24-10 with 8:36 remaining. With the lead and a likely victory, the Buccaneers faced fourth-and-goal from the Cowboys' one-yard line. They had two options. A chip-shot field goal would have made it 27-10, a three-score game. Doing so would have forced the Cowboys to score three times in under nine minutes. Two of those scores…
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