Какое место акции и облигации должны занимать в портфеле долгосрочного инвестора? Ризольц и Сигел дискутируют, но соглашаются, что акции действительно привлекательны. Сигел более категоричен: он не видит смысла в облигациях, если горизонт инвестирования более 30 лет..

Validea's Guru Investor Blog

While stocks have far outperformed bonds over the past couple centuries, bonds have had the edge over the past 30 years. So, which is the better bet going forward? Top strategists Barry Ritholtz and Jeremy Siegel debated that recently on CNBC. Siegel, author of «Stocks for the Long Run», remain firmly behind stocks as the better choice, noting that stocks are trading at very reasonable valuations right now — unlike other times in the past decade-plus. Siegel also said that while bonds beat stocks over the past 30 years ending December 31, 2011, their edge was minor. He also says that with bond yields so low right now, stocks are clearly the better option for long-term investors. Ritholtz says that over the next 20 years, he expects stocks will outperform bonds. But, over the next one, two, or three years, he’s not so sure. He says secular bear markets typically…

View original post ещё 70 слов