No. of Recommendations: 3
Like every “bonds-versus-stocks” study, an apples-versus-oranges comparison is done in the article, with no attempt to answer why the latter asset-class offers more money. In a word (or phrase): REWARD IS PROPORTIONAL TO RISK.

My anecdotal studies suggest that the advantage of stocks over bonds is about 3.5x when the common and the debt of the same issuer are bought at the same time and later disposed of at the same time. For sure, there are exceptions in both directions. When I’ve bought advantageously, I’ve made as much as 100% a year, for multiple years, from some bond purchases. And I often beat the implied CAGR of the best utility return trotted out by the article. But, by and large, over long time frames and based on a widely and properly diversified basket of debt holdings, the returns from bonds --as an asset-class-- are going to be sub-10%, just as will be that of utility stocks. That’s just the nature of each of them, on average and over the long haul. This isn’t to say the article is worthless. No attempt to make asset-class and investing-strategies comparisons and to discover better ways to put money to work is a waste of time. But selectively picking the data to spin conclusions is irresponsible journalism. It's fun to write and fun to read, but financial fluff rather than serious investigative work.

Ques: If utility stocks are good for one’s account, might utility muni bonds be good, too, or at least offer a yield-advantage over other debt types that might be attractive?
Ans: That’s an area where I’ve been doing a lot of buying lately. (Your Mileage May Vary. LOL)
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