…or rather "Some things I've learned about calculating
and projecting standard deviation of returns from a short frequency measurement
(monthly) to a longer frequency horizon (year)."

[ Note: since I clearly don't know this material nearly as
well as I think I do, this post will continue to be a work in progress which I
will update as I learn and assimilate more over time.]

If you asked me how many people out of, say, 400 million in
the US were interested in standard deviation projections I'd have to guess the
sub-population is relatively small, maybe 10s of thousands and that may be
generous though it may be more. If, of
that sub-population, one were to ask how many are really, truly interested in whether
using the square root of 12 (SQ12) is "good enough" to project a
standard deviation using monthly return data to an annual horizon or if there is something better or more
correct, well then, we are down, if I am not being overly dramatic, to maybe
hundreds (maybe more). I know there is at least one because he is writing this
sentence and probably more than one because I am reacting to an article or two on this
subject.