"I am proceeding with caution with regard to public equities," he said.
Doré says he's keeping his risk profile balanced in other ways, as he has higher concentrations of fixed-income investments and cash in taxable, non-401 accounts. That provides diversification and stability while also minimizing the taxes he owes relative to the tax-advantaged 401.just a few months after the market appeared to be in a rising-rate environment. So Doré argues that the right move today is minimizing the risk of getting caught off-guard.
He's also discouraging clients from considering lower-quality, higher-yielding bonds as they hunt greater income. He said he believes the bond part of a portfolio should be the safest, not the highest-yielding.
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