This year, that relationship changed with a vengeance. Yield has been very important. Hence, my emphasis on total return. Yes, I have occasionally owned bonds. More commonly, however, I will buy convertible securities as a way of getting some yield but also participating in an up move of the stock.
Aggressive growth is certainly appropriate, more so for younger people.
However, risk should never be ignored. Ok, everyone, we have time for one more question. That puts a floor under earnings. Still, that usually means utilities decline less than the market. This year, though, utilities, especially electric and natural gas, have enjoyed positive returns.