In the past, the reasoning behind holding onto equities was that other forms of investments were not paying off well. This is no longer the case now that long-term U.S. Treasury bonds are earning yields of about 5% or more. The certainty of a fixed rate of return (on an individual bond held until maturity) is looking more and more attractive in light of the uncertainty surrounding equity returns. However, there is the issue of inflation, taxes, and the chance of losing out on a bull market. How
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