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Has the 401k Fiduciary Unknowingly Put Employees in Peril?

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It doesn’t take a rocket scientist to see the inappropriateness of using volatility to define risk. But it’s become so ingrained in our investment management culture it’ll be almost impossible to purge it. So, instead of simply redefining the tarnished word“risk,” will replace it with word “peril.” Moreover, we’ll also change our perspective from viewing risk in terms of investment returns to viewing peril in terms of the consequences of an investor missing his goal.