07/26/2023
Bonds are a great short-term cash/GIC replacement vehicle. However, long-term investors still need to focus on equities in spite of all the fear. The last rising interest rate environment started in 1949 and went on for 32 years!
Below were the annualized returns of US stocks vs US Gov't bonds between 1951-1966:
S&P 500: 15.10%
Bonds: 1.60%
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