Standard & poor’s chief investment strategist stresses that this month’s change in allocation both corrects an earlier misstatement and represents a redefinition of the role of cash and bonds. “We thought the market would advance regardless of who was elected because the uncertainty would have been resolved. So we moved total stocks up from 50% to 60%.” Stovall notes that the equity allocation includes 45% U.S. stocks and 15% foreign stocks. “You want to have some international exposure, and we think that the weakening dollar will also benefit returns.” As for bonds, the emphasis is on durations in the one- to five-year range.–Robert F. Keane
The hiring of Matthew Chisholm comes “as our industry continues to shift to fee-based advice," said CEO Wayne Bloom.
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Women help lead key teams at E-Trade, such as the innovation lab, product management and tech development.
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