Multi-asset, multi-manager investing (MAMMI) is not a new concept. The core principles that underpin it go back thousands of years, appearing in various religious texts. MAMMI has evolved over the past 50 years into a highly complex discipline such that nowadays, it represents the true expertise of the investment portfolio construction professional. Understanding the drivers of and outlook for the markets is an essential ingredient to MAMMI expertise, whether you are putting portfolios together or giving advice on them. However, MAMMI is full of traps. As the ...