Wayne Lin, portfolio manager and investment strategy analyst for Legg Mason (LM) Global Asset Allocation, says investors should watch the election carefully and manage their portfolios accordingly.

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Disclosures: Subscribers to the ZYX Global Multi Asset Allocation Alert have been following this strategy since August last year.

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The AdvisorShares Cambria Global Tactical Asset Allocation ETF (GTAA) is one interesting combination of the asset allocation strategy with another recent phenomenon, the actively managed ETF.

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Other common names for market timing include opportunistic investing, sector rotation, active asset allocation, top-down allocation, bottom-up allocation, global modeling, algorithmic positioning, defensive investing, and the list goes on.

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Given the many moving pieces in the complex, global investment puzzle, investors would be wise to revisit their asset allocation strategies to help ensure that they have the diversification in place to withstand potential periods of heightened volatility as well as the breadth of asset classes and sectors to help deliver risk adjusted growth opportunities.

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Make a top-level asset allocation of 40% to short term, high quality bonds the balance to a diversified global equity portfolio of perhaps 10 to 12 asset classes.

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The way we work at Morgan Stanley Smith Barney is that our global investment committee, comprising seasoned professionals like Charlie, weigh valuation, fundamental and other factors in determining asset allocation positioning.

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