Jobs Miss

You may have heard a lot of clamor about the jobs report that came out on Friday.  In a nut shell, not as many jobs were created as expected by the prognosticators.  One of the final headlines of the day read – Huge Jobs Miss Spooks Wall Street.  But, that is not necessarily true for those who have asset classes inside their portfolio’s besides stocks.  For example, on Friday our returns on moderately allocated portfolios were up nearly .50%.  Not bad for an off day.  The defensive positions won the day.  Basically those asset classes like bonds, real estate, gold etc.  What is the lesson to be learned?  There are at least two.  #1 – maintain a high level of diversification, and #2 – don’t let the forecasters and headlines get the best of you.  It’s never quite as it seems.  As Jack Bogle says, “Just stand there”!