The Selected Investments section of Selection & Opinion has three portfolios. Why isn there a “Conservative” portfolio?
Portfolio II, Stocks for Income and Potential Price Appreciation, is the one we would recommend for “conservative” investors. A key criterion for this portfolio is that the stocks have above-average yields. These attractive yields lend support to stock prices when the market is declining. This portfolio usually also has slightly lower-than-market risk (volatility) as measured by the average beta of the portfolios.