Bonds have performed well for most of the last 30 years with a tailwind of easing liquidity, but the current high prices makes them vulnerable to losing their protective qualities.
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The idea that stocks should be divided into growth and yield categories diverts us from fundamentals. Intrinsic value eventually manifests in higher cash flow, whether or not share price appreciation anticipates it.
Macro trends are almost impossible to forecast, and picking undervalued shares with an eye to the long term is a better way. But often, stock selection requires resilience in the face of criticism.