The Bond Fallacy

The bond bandwagon has gotten pretty crowded these days, with big names like Rob Arnott and Gary Shilling both writing that bonds — not stocks — appear to be the best long-term investment vehicle. In his Return on Investment column for The Wall Street Journal, however, Brett Arends counters the arguments that the bond proponents (and in particular Arnott) have been raising. “Obviously bonds, especially Treasurys, held up well during last year’s crisis,” writes Arends.… Read More