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I see it very differently (as usual!). The two groups I see are (1) those for whom bonds are the predominant if not sole investment in their portfolios, and (2) those for whom bonds are only a piece of a more diverse portfolio.

When you criticize the latter group's bond portfolio, you have blinders on. You're not looking at the rest of our investments. We deal with company-specific risk, tax risk, inflation risk, and a dozen others using other types of securities. We're not naive. We just don't handle the risks the same way you do. And since this is a bond board, it seems off-topic to talk about how we integrate non-bond holdings into an overall portfolio.


Dan,

Hold it right there. In your attempt to step into and be a “peace-maker”, all you are doing is muddying the waters. I don’t give a FF about the composition of anyone’s portfolio qua portfolio. I do protest the unproven claims that are made about efficacy of such portfolios.

Here’s my challenge to you (and anyone else). List a schedule of your holdings: trade data purchase price, purchase amount, current value, etc., all cash, cash-equivalents, savings, and securities, plus total income-streams and expenses projected until age 100, and then let’s talk about who is obtaining what kinds of investment results in responsible, sustainable ways and who is skating on the thin ice of shaky assumptions.

If you don’t want to go public with your data, we could do the comparisons off-line. I’ll stand by my numbers and results, and I’ll take anyone on. But I’ll also insist, yet again, that there is an infinity of good ways to do any of this stuff. What I do not have to tolerate is unproven claims or manifestly bad methods. Claims are made in this forum --by you know who-- and advice is given --by you know who-- which cannot stand up to close scrutiny. So if I seem “critical” of "him" and "them", get used to it, because my demand for proof isn’t going to go away.

Charlie
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