[Verse 1] Portfolio returns tell two different tales Asset allocation sets the major sails While security selection picks the crew Both decisions shape what profits sail through When performance attribution breaks apart These components reveal the beating heart [Chorus] Split the gains, split the blame Asset mix and stock-pick game Macro moves versus micro chase Attribution shows each piece its place Split the gains, split the blame Two decisions, not the same [Verse 2] Asset allocation chooses bonds or stocks Geographic regions, sector building blocks This strategic choice drives eighty percent Of portfolio variance, studies represent Security selection digs within each class Hunting diamonds while the duds bypass [Chorus] Split the gains, split the blame Asset mix and stock-pick game Macro moves versus micro chase Attribution shows each piece its place Split the gains, split the blame Two decisions, not the same [Bridge] Benchmark weights against your actual hold Strategic beta versus alpha bold Interaction effects can blur the lines But math reveals what truly defines Each basis point of excess gain From tactical shifts or stock-pick brain [Verse 3] When your portfolio beats the market wide Attribution math becomes your guide Did asset timing make the difference sweet Or did security selection bring the heat Both skills matter, both deserve their due But measurement shows which one helped you [Chorus] Split the gains, split the blame Asset mix and stock-pick game Macro moves versus micro chase Attribution shows each piece its place Split the gains, split the blame Two decisions, not the same [Outro] Allocation sets the stage so wide Selection picks the stars inside Together they create returns Attribution shows what each one earns
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