Read the case "Strategic Asset Allocation During Global Uncertainty By: Weina Zhang, Man Zhang, Ruth S$.$K$.$ Tan, Zsuzsa R$.$ Huszar," and write a $2-$page report answering the following questions:

What factors would you consider when selecting an investment strategy, and how do you will you balance the potential risks and rewards of different investment options?

Based on the case reading, analyze the expected return from your investment after considering your family$$s financial needs in the next five years.

Markowitz's analysis, also known as Modern Portfolio Theory, is a popular investment strategy that seeks to optimize the risk and return of a portfolio by selecting assets with low correlation to one another. The primary benefit of using Markowitz's analysis is that it allows investors to create a diversified portfolio that minimizes risk while maximizing returns. Conduct a Markowitz portfolio analysis on the $10$ ETFs recommended by your broker, using annual historical returns and risks to determine the optimal portfolio allocation. Discuss the diversification benefit by comparing the performance of investing in individual ETFs and the efficient frontier. $($Hint: The one$-$year risk$-$free rate was $0\mathrm{.}87$ percent in December $2016$ using the one$-$year Treasury bill rate shown in case Exhibit $2,$ panel B$).$

Based on the market risk premium forecasted by J$.$ P$.$ Morgan in case Exhibit $3,$ panel B$,$ determine whether a tactical asset allocation would enable you to earn a higher return in the following year. You might need to adjust the allocation made in question $2.$

Analyze the quantitative and qualitative advantages and disadvantages of adding two alternative investment vehicles to the optimal portfolio. The two alternative asset classes include gold and real estate investment trusts that are traded in the U$.$S$.$ market and denominated in U$.$S$.$ dollars. The historical annual index levels of the two ETFs are available in case Exhibit $4.$

Make a final optimal investment decision after considering the above analyses.

Discuss the weaknesses and vulnerabilities of applying the Markowitz Portfolio Theory in practice.