Folks,Warning: new to the notion of bonds and thinking about investing (so therefore quite ignorant).Last year in an article in Forbes, Gary Shilling, long-time exponent of the long bond (25, 30 year Treasuries, for example) said:I've recommended the long bond repeatedly since I started writing this column in 1983. Some readers may recall the review of long-term Treasury performance in my Feb. 22, 1999 column. I said then that if you had bought a 25-year zero coupon Treasury at the 1981 rate peak and rolled the money into another 25-year each year to maintain its long maturity[empasis added], you would have comfortably outperformed someone buying the S&P 500 at the index's low in July 1982 and reinvesting dividends. I've updated those calculations. The Treasury investors would have earned 21% a year to a mere 15% for the S&P investors. Our hypothetical zero buyer would have turned $1 into $93.Apart from the general investing philosophy for doing so, what exactlyis the technique for buying and rolling these instruments? Is there a nuts and bolts "How-To" available?Thanks for any guidance,PJ
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