Recall that we called that the top-down or the bottom-up approaches to investing, respectively. Figure 16.6 shows examples of aggressive and conservative portfolios. Once you have settled on the...

Recall that we called that the top-down or the bottom-up approaches to investing, respectively. Figure 16.6 shows examples of aggressive and conservative portfolios. Once you have settled on the approach, are you going to invest passively, say, in a mutual or index fund, or are you going to have a portfolio manager actively manage your account (in the expectation of higher return but with higher risk)?