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July 31, 2017

Vanguard CIO says be ready for a downturn

By STAN CHOE
AP Business Writer

NEW YORK — It's easy to get lulled by the gentle and seemingly unstoppable ride higher that investors have been enjoying with almost all their funds. But it can't last forever.

Greg Davis, the new chief investment officer at investing giant Vanguard, isn't predicting when the next downturn for stocks will happen, but he says investors need to be ready for it given how expensive the market has become. So if swelling stock prices mean they make up a much bigger part of your portfolio than before, and you wouldn't be able to stomach a 10 percent drop without panicking, consider paring back on them.


 
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