The article explains how to make smart investment choices by strategically allocating assets. It suggests steps like making assumptions about the market, picking potential portfolios, and modeling assets and debts. When considering different investments like private equity or hedge funds, it's best to take a practical approach instead of using complex techniques. By choosing the right mix of assets, especially growth assets, investors can balance risk and return. Adding alternative investments can improve outcomes. It's important to compare the results of the asset allocation study with investment goals to make the best choice.