A sampling of recommended asset weightings from Wall Street firms. Assets are broken down into stocks, bonds and "cash"-- or short-term liquid securities--and the weightings are listed in descending order of stock percentage:
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Strategist Company Stock Bonds Cash Jeffrey Applegate Lehman Bros. 80% 20 0 Thomas Galvin Donaldson Lufkin & Jenrette 75 20 5 Don Hays Wheat First Union 70 30 0 Abby Joseph Cohen* Goldman Sachs 70 27 0 Ray Worseck A.G. Edwards 70 25 5 Peter Canelo Morgan Stanley Dean Witter 70 20 10 Greg Smith* Prudential Securities 70 20 5 Ed Kerschner PaineWebber 61 23 16 Liz Mackay Bear Stearns 60 35 5 Christine Callies Credit Suisse First Boston 60 30 10 Douglas Cliggott J.P. Morgan 60 25 15 Committee Salomon Smith Barney 55 40 5 Gail Dudack Warburg Dillon Read 45 30 25 Charles Clough Merrill Lynch 40 55 5 Average** 63 29% 9%
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* Goldman Sachs also suggests placing 3% of assets in commodities. Prudential Securities also recommends placing 5% of assets in real estate investments, including REITs--real estate investment trusts--and shares of development companies.
** Totals do not equal 100 percent because of rounding.
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Expectations for the Dow
A sampling of 1999 year-end targets for the Dow Jones industrial average, listed in descending order of bullishness:
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Strategist Company Expected Dec. 31 close Laszlo Birinyi Birinyi Associates 12,010 Tom Galvin Donaldson Lufkin & Jenrette 11,000 Ralph Acampora Prudential Securities 10,500 Barry Hyman Ehrenkrantz King Nussbaum 10,100 John Manley Salomon Smith Barney 10,000 Al Goldman A.G. Edwards 9,900 Abby Joseph Cohen Goldman Sachs 9,850 Ed Kerschner PaineWebber 9,750 Douglas Cliggott J.P. Morgan 9,300 Don Hays Wheat First Union 7,500 Average 9,991
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Source: Bloomberg News
