Stocks vs. Bonds: A Surprising Result [View article]
We are also at the end of a bond market bull market that started in 1982. The change in rates from 14% government bonds to the 3.5% today can not happen over the next 25 years. Yes, in hindsight, it would have been wise to have bought non-callable zero coupon government bonds in 1982, but we did not.
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