With stocks rising virtually uninterrupted since the end of August and doubling from their March 2009 lows, you may be kicking yourself for not shifting more of your bond investments into stocks. Don’t. Some bonds have actually beaten stocks. Measuring from their respective cycle lows, the Merrill Lynch High-Yield Master II index is up 106% and the S&P is up about 100%. Not bad for boring old bonds.
Jeremy Jones, CFA
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