Smith Barney Inc. changed its model investment portfolio Wednesday, cutting the amount of money to be kept in stocks by 5 percentage points.
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The investment firm's new asset allocation model now recommends investors put 45 percent of their money in stocks, down from 50 percent. Bonds now should get 40 percent of investment dollars, up from 35 percent. The amount to be left in cash remained the same at 15 percent.The move marks the second time in just over two months that William Helman, director of economics and investment policy at Smith Barney, reduced the stock portion in the firm's allocation model.