Bob Pozen

speaker

286 appearances 1 recordings 1 series first heard Jul 2026 last heard 30 Jul

Bob Pozen’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Well, I spent a lot of time going through the data over the last 60 years, and we could see that stocks outperform bonds over any long period.

So there is a much greater return for stocks than bonds.

So the question is, why do people hold bonds?

Now, there are people who need to live off their investment income, and I'm not talking to those people.

If they need to live

off their investment income, then they probably need a lot of bonds.

But there are six to seven million Americans who have over one million in investable assets.

So that means that they usually are not dependent on their investment income to live on, to meet their living expenses.

So why are these people giving up the big

extra returns in stocks for bonds.

So I go through the various arguments in the article and I rebut them.

And I think it's persuasive.

If we look, for instance, at if you invested $100,000 in a 90-10 portfolio, after 40 years, you would have $5.8 million.

In a 60-40 portfolio,

with the bonds represented by 10-year treasuries, you'd have 2.5 million.

So that's a difference of 3.2 million.

Or take 30 years, you'd have in a 90-10 portfolio, you'd have 1.569 million.

In a 60-40 portfolio, you'd have 868,000.

So that's a difference of 700,000.

So the question is,

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