Plus, Fairholme's Berkowitz will defend stock picks and more.
It's a useful starting point for retirement planning, but it's crucial to understand the assumptions behind it.
Correlations have increased across the market, but a few bastions of diversification remain.
Record levels of corporate high-yield debt and leveraged loans outstanding in the U.S. and Europe, together with a modest economic growth outlook and more limited access to capital, are laying the groundwork for an escalation in distressed activity.
Morningstar's Adam Fleck notes that quarterly declines seen in 3M's display and graphics and electronics units have tended to lead weakness in the other segments in the past.
As investors focus on individual credit quality, they like what they see.
A recent change in strategy includes the addition of riskier assets into the portfolio, providing the fund with more income-generation potential.