TY - JOUR T1 - Anticipating the Future JF - The Journal of Wealth Management SP - 77 LP - 80 DO - 10.3905/jwm.2005.598424 VL - 8 IS - 3 AU - Anne Shumadine Y1 - 2005/10/31 UR - https://pm-research.com/content/8/3/77.abstract N2 - Starting with the observation that unexpected events offer opportunities for investment gain—and loss—the author suggests a scenario-planning approach that encourages investors to consider the unexpected. When incorporated as part of the investment process, scenario planning increases the likelihood that decisions made today will continue to be valid for the future. This article thus gives an overview of scenario planning and its possible application to the process of investing. The author first provides an example of possible scenarios out in the future and then, having defined scenario planning, discusses how that process would cause one to envisage a portfolio differently. Having suggested four possible guidelines to allow users to benefit from the approach, the author concludes that scenario planning is a powerful tool for thinking about the future as it enforces a long-term view and changes the focus of discussion. ER -