Which of the following statements is not true regarding a comparison of strategic versus tactical asset allocation?
1) Strategic asset allocation focuses on long-term investment objectives, while tactical asset allocation focuses on short-term market opportunities.
2) Strategic asset allocation involves setting target allocations for different asset classes, while tactical asset allocation involves making adjustments to the portfolio based on market conditions.
3) Strategic asset allocation is a passive investment strategy, while tactical asset allocation is an active investment strategy.
4) Strategic asset allocation is more suitable for investors with a long investment horizon, while tactical asset allocation is more suitable for investors with a short investment horizon.
