S&P: Lighten Up on Stocks
With a laundry list of negatives weighing on the stock market, Standard & Poor's Investment Policy Committee -- a group of senior managers who meet weekly to oversee all investment-related activity done in S&P's name -- has decided to change its asset-allocation recommendation for investors. The committee voted on June 5 to reduce the recommended equity exposure by five percentage points, to 55%, and raise the cash allocation to 25% from 20%. The recommended bond exposure remains at 20%. This follows a similar move by the committee in April, 2002.
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