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It's Always Something
The unpredictable economy continues to exceed expectations. Growth is coming in stronger, the job market is showing more vigor, consumers are surprisingly resilient and businesses are more eager to build inventories and invest in equipment and computer software. Put it all together and the recovery is finally starting to get the respect it deserves; most economists are raising their growth forecasts and only a few believe it will stall out. Yet the recent financial market turmoil sparked by the Greek debt crisis argues against complacency. While the latest crisis seems less threatening than the one that sent the global economy into a tailspin in 2008, it is a
rude reminder that bumps and potholes in the recovery road are inevitable. At this juncture, it would probably take a severe external shock to derail the recovery.
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Strategic Asset Allocation Snapshot |
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The philosophy of Strategic Asset Allocation-and a key characteristic of Legacy's comprehensive investment process-is relative value analysis, whereby each of four asset classes is compared to the other. Rather than be constrained by rigid allocation guidelines, which limit flexibility to adapt to changing market conditions, we recognize that investment performance in each asset category can vary substantially over time.
Legacy determines the strategic asset allocation for client portfolios by comparing four asset classes to the other. Asset categories that are most attractive against the other categories are given the greatest weighting in the portfolio.
Read about our SAA results.
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Volume 4, June 2010
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Summer Business Hours
Monday through Thursday
8 a.m. - 5 p.m.
Friday close at 3:00 p.m.
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