Executive summary
Needs: Lower-risk investors, especially retirees, want peace of mind in all markets.
Problem: “The nastiest problem in finance” (William Sharpe) is turning retirement savings into reliable income. Sequencing risk and losses early in retirement creates lasting damage.
Solution: Diversify by market scenario, falling, volatile, stable, and rising, to ensure portfolios are prepared for all conditions.
Proof: Gyrostat’s absolute return equity income funds embed protection always, delivering growth with resilience.
Introduction
Nobel Laureate William F. Sharpe once described retirement as “the nastiest problem in finance.” His point was simple but profound: unlike saving for retirement, where the challenge is to amass as much wealth as possible, the drawdown phase presents an almost impossible balancing act.
Retirees must turn a finite pool of savings into an income stream that will last a lifetime, with no certainty about how long they will live, what markets will deliver, or how much they will need to spend along the way. For advisers and their clients, this problem is not theoretical. It is immediate, personal, and unforgiving.
