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Bill Bernstein: Make Peace With T-Bills

Wednesday, April 10, 2013 - 9:15 PM
Bill Bernstein, whose recent book “The Ages of the Investor” addresses the challenges of getting the final phase of an investment life right, is adamant that looking to longer-dated debt or taking on bigger risks in places like the junk market is really an accident waiting to happen for people who want nothing more than to quietly clip coupons.

So grin and bear it, Bernstein told Managing Editor Olly Ludwig, because this too shall pass, and the last thing any senior or investor with limited appetite for risk wants is to be holding something like emerging market credits when the inevitable reversion to the historical mean starts taking shape.

Bill Bernstein: Make Peace With T-Bills
ShorebreakShorebreak2,700 posts since
Apr 6, 2010
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