The pace of growth in private-sector payrolls picked up a bit last month, according to today’s ADP Employment Report. The modest improvement is enough to assume that May’s full economic profile, once all the numbers are published, will reflect more of what we’ve seen lately: a sluggish but still positive rate of expansion. But expecting something better continues to require a level of confidence that’s not supported in the numbers.
Daily Archives: June 5, 2013
The Rock, The Hill, & Every Investor’s Burden
What are the odds of getting it right? Tougher than it seems. Maybe that’s why there’s a widespread tendency to assume that asset allocation doesn’t require much analysis or monitoring. Some folks take this to the extreme and decide that asset allocation isn’t all that important after all (even if quite a lot of research tells us otherwise). But what you own and when you own it, and how much of it sits in your portfolio, counts for a lot, as my current profile of the major asset classes reminds. The problem is that there are a lot of moving parts to researching, building and maintaining a diversified portfolio and so getting it all right is, well, let’s just say it’s challenging.