Word: bondses
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Stocks, we have been told again and again through the years, are the best long-term investment. Prices go up and they go down, but give stocks enough time and they deliver returns that trounce those of bonds, real estate, commodities or any other asset class.
So can stocks possibly still be the best long-run investment? Somewhat surprisingly, the answer turns out to hinge on what you mean by best and what you mean by long-run. The investment part actually remains pretty cut and dried. Over the past two centuries, stocks have done dramatically...
First, though, a little background on stocks for the long run. The notion goes back to 1922, when a bond brokerage in New York City hired Edgar Lawrence Smith to put together a pamphlet explaining why bonds--and certainly not stocks--were the best long-term investment. At the time...
In 1924, Smith published the results as a book called Common Stocks as Long Term Investments. It was a sensation. Smith--a businessman of no great distinction up to that point--launched a mutual-fund company on the strength of his sudden fame and got an invite from John Maynard...
What's more, despite higher government-bond yields, corporations are actually paying less to borrow than they did a few months ago. As the credit crisis continues to ease, those rates could come down even further, making it cheaper for companies to borrow and expand their businesses. According to Credit...