Post-crash planners keep faith in market as mistakes realized

Ooops. Alan Greenspan has just discovered that, when the odor of money is floating on the air, you can't expect the $$,$$$,$$$ bonus crowd to "just say no". It was a flaw in his thinking, Greenspan concedes, in apparent shock.

So what about the financial planners who advise pre and newly post-retirement clients to hold a substantial portfolio of stocks? Are there flaws in that theory of asset allocation?

I put that question on the website used by members of the National Association of Personal Financial Advisors. The resounding answer: No. They've kept the faith in a financial portfolio that's 50 percent to 60 percent invested in stocks for people facing a retirement of 20 to 40 years.