Discretionary - investor modifies his tactical asset allocation according to market valuations e.g. rebalancing from more expensive asset class into a cheaper one
Systematic - use of quantitative models to exploit market inefficiencies e.g. trend following/momentum based approach. If US stocks go up, overweight US stocks
Systematic - use of quantitative models to exploit market inefficiencies e.g. trend following/momentum based approach. If US stocks go up, overweight US stocks
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