He set about building a portfolio of "below-the-line" businesses, in less glamorous industries such as direct marketing and sales promotion, "unloved and therefore cheap".
Though the real estate market has declined and your portfolio is below its target allocation to it, he said, don't try to time the market.
The audit showed reserves to be 0.53percentt of the total portfolio, far below the 2percentt minimum mandated by Congress and far less than the audit last year had forecast.
When Ramius sold the CDO in 2005, 64% of the portfolio was below investment grade.
My material exposure to big stocks outside the U.S. reduces portfolio risk below that of an all-U.S. portfolio.
My material exposure to big foreign stocks reduces portfolio risk below that of an all-U.S. portfolio.
Big funds, such as Banamex, still have no corporate bonds in their portfolios rated below AA.
Yet the claim payouts pale beside the hit that some European insurers took on their equity portfolios last year, (see table, below).
The next day Fortis, a Dutch-Belgian insurer, also warned about profits: the market value of its equity portfolio had fallen below its purchase price.
