Hold on, just to try wrapping up the first point—if by “flat” you meant “more concave”, why do you say “I don’t see how [uncertainty] could flatten out the utility function. This should be in “Justifying a more cautious portfolio”?”
Did you mean in the original comment to say that you don’t see how uncertainty could make the utility function more concave, and that it should therefore also be filed under “Justifying a riskier portfolio”?
Hold on, just to try wrapping up the first point—if by “flat” you meant “more concave”, why do you say “I don’t see how [uncertainty] could flatten out the utility function. This should be in “Justifying a more cautious portfolio”?”
Did you mean in the original comment to say that you don’t see how uncertainty could make the utility function more concave, and that it should therefore also be filed under “Justifying a riskier portfolio”?