Most investors recognize the importance of portfolio diversification, but few are certain how to achieve it. Some academics and practitioners advocate simple heuristics, such as spreading bets equally, or in proportion to risk. But such basic approaches may leave money on the table. In this presentation, Mark Kritzman (State Street Associates Founding Partner and CEO of Windham Capital Management) and Will Kinlaw (head of Global Markets Research at State Street) – both coauthors of the book “Asset Allocation: From Theory to Practice and Beyond” – explore the tools and techniques necessary to implement more sophisticated diversification, quantify the benefits from these approaches, and discuss common pitfalls and guidance for achieving the most useful results.