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Howard Gold’s No-Nonsense Investing: Pioneer of target-date funds looks to the future: hedging and ‘tail-risk’ strategies

Investment-research firm Morningstar recently bestowed an “Outstanding Portfolio Manager” award on Jerome Clark of T. Rowe Price, a pioneer in developing target funds for the Baltimore-based mutual fund giant. It was recognition for Clark himself, who along with his team members, launched T. Rowe’s first target-date funds in 2002, a …

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