Sep 14, 2008

Peter Bernstein on inflation complacency in 1958

In 1958, I'd been in the business for seven years when, for the first time in history, bonds yielded more than stocks. My associates said, 'It's an anomaly, don't worry, it will be reversed.' It's 50 years later, and I'm still waiting.

~ Richard Bernstein, Founder, Peter L. Bernstein Inc., "Retirement: Safety First," Barron's, September 15, 2008

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