The Folly of Investing in 50-and-100-Year Bonds
Benjamin Graham once wisely observed that more money has been lost by investors "reaching for yield" than stolen at the barrel-end of a gun. During periods of anemic interest rates on fixed-income securities, bank deposits, and cash equivalents, a combination of impatience, action bias, and desperation causes savers to do what they would otherwise consider extraordinarily foolish.
from Joshua Kennon
from Joshua Kennon http://ift.tt/1Xm0a2X
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