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September 3, 2010

The Lost Decade Has Passed Us, New Decade Is Here

Doug Kass, TheStreet

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This blog post originally appeared on RealMoney Silver on Sept. 2 at 8:02 a.m. EDT.

-- Robert Frost, "The Road Not Taken" Bull markets are born out of distress -- witness March 2009. Bear markets are born out of prosperity -- witness 2007. Liquidating/de-risking out of equities and acquiring/re-risking into fixed income has been the mantra of most individual and institutional investors over the course of the last three years. Since early 2008, retail investors have sold over $200 billion of domestic equity funds, while purchasing nearly $600 billion in fixed-income products. That gap of over $800 billion is unprecedented as is last decade's spread in performance of bonds vs. stocks the largest in history. But history tells us that the S&P 500 performs famously in the...
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TAGGED: economy, Doug Kass, investing, bonds, stock market

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