Bonds Away! Stocks May Not Be the Play

The portent of deflation is signaling a shift to fixed income

Investors trip up in dozens of silly ways. They act on stock tips from their nitwit in-laws, send money to brokers they've never met, check their mutual-fund balances too often and lose patience too soon. But my guess is that this year's most popular gaffe will be the way investors categorize in their mind the past few years of robust U.S. stock gains. Some lost souls will view the spoils as perfectly normal and expect more of the same. God bless them. But even those with a sense of history may regard the period as merely unusual when, in fact, the...

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