If you plan to drive to your summer vacation destination, it’s unlikely that you will set the cruise control at 70 mph and only decelerate upon arrival. Curves in the road, construction zones, and that slow driver that won’t get out of the left lane require us to moderate our speed for a safer trip. Investing for the long term has similar analogies. Staying invested to achieve long-term goals requires moderating portfolio allocations and risk (eg: adjusting speed and travel lanes) at times when hazards emerge. Similar to alternative routes, various investment strategies and styles within asset classes may allow investors to incur less downside (and more upside) while maintaining market exposure.