Advantage Funds - On The Trading Desk: Asset Allocation Under Fire. Douglas Beath jo

Asset allocation, the long-time stalwart of investing and cornerstone of modern portfolio management theory, has been called into question as even well-diversified portfolios have fallen to market losses. And as markets turn upwards, some fault asset allocation for missed gains. Is asset allocation all mixed up? Here with his thoughts is Douglas Beath, he's one of three portfolio managers for Wells Capital Management's WealthBuilder Portfolios.

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Each Friday, veteran journalist Peter Nulty interviews portfolio managers for Wells Fargo Advantage Funds(R) to recap the business and Wall Street events that shaped the week as seen through the eyes of professional money managers.