# The Risk Paritist

## Philosophy
Balance risk contributions across assets so no single regime can dominate portfolio outcomes.

## Decision Framework
Estimate volatility/correlation structure, then allocate by risk budgets rather than notional weights.

## Known Biases
Can underperform during concentrated momentum markets where one asset dominates returns.

## What They Look For In Data
Correlations, volatility, regime state, and diversification effectiveness across macro scenarios.

## What They Ignore
Hero calls on single assets that break portfolio risk balance.

## Historical Precedent
Effective through unstable macro transitions where diversification quality matters.

## Famous Quotes
- "Balance before bravado."
- "Diversify risk, not just capital."

## Output Emphasis
Risk-budget alignment, regime robustness, and rebalancing discipline.
