Word: portfolios
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...REBALANCE YOUR PORTFOLIO. The stock market has gone through its worst 36-month period since France fell to Germany in 1940, reports Bianco Research. Bonds have outperformed. If you haven't made adjustments, bonds have grown into a bigger slice of your portfolio than you intended. Get the allocation back in line: for folks under 50, 70% stocks (some foreign), 20% bonds, 10% cash. It's a great way to catch any turn in the market. "We rebalance four times a year," says Thomas Orecchio of financial advisers Greenbaum & Orecchio...
...particular attention to debt. Stan Majcher, portfolio manager for Hotchkis & Wiley Capital Management in Los Angeles, warns that if a company trades below $2 and carries a heavy debt load, the chances of long-term survival fade. With plenty of cash and a sensible strategy, the odds are better. That's why Majcher likes Gateway, an unpopular view among some analysts. Its stock is trading 95% off its peak, after a series of missteps. Majcher expects PC sales to pick up eventually. With zero debt and $1 billion in cash on its balance sheet, Gateway is an unlikely candidate...
After this summer's market meltdown and the dollar's fall against the euro, who could blame the weary, wary American investor for seeking shelter overseas? Investing abroad is a logical choice to balance your portfolio. But how much? And where? Time senior writer Daniel Kadlec and reporter Jyoti Thottam asked three top portfolio managers, Gary Bergstrom, chairman of Acadian Asset Management; Barton Biggs, chairman of invest- ment management for Morgan Stanley; and Sarah Ketterer, CEO of Causeway Capital Management. Here are their top picks among overseas markets and some advice on the smartest ways to diversify globally...
KETTERER: The major case is diversification. Non-U.S. markets are now less volatile. When you mix a lower-risk asset class into your U.S. portfolio, by definition you lower your risk...
...been promoting credit cards, luxury goods and travel--creating a free-spending middle class to boost domestic demand. "Korean companies have streamlined and have very little debt," notes Steven Schoenfeld, head of international equities at Barclay's Global Investors. Some of the best values are in Taiwan. Aquico Wen, portfolio manager at Citigroup Asset Management, especially likes the nation's fast-growing electronics industry, which includes world-class outsourcers like Taiwan Semiconductor and United Microelectronics. Two good Asian funds are Eaton Vance Asia Small Company and Matthews Asia Growth and Income...