"Portfolios to grow. They need to be in the best asset classes for growth. Now. They don't have time to miss nine year bull. Markets are being the wrong places. I manage both an aggressive growth conservative growth portfolio for these folks it seeks out the best gross stocks that I can find at any given point in time these portfolios carefully tended to buy me on a daily basis. These two portfolios are also unconstrained, they are active, not passive. They can go anywhere in the world. The find the best growth opportunities at times, they may be in cash or have some inverse hedges. If I think that the market is too expensive for the economy is headed into recession is your main objective still accumulation growth."