I had heard this one before, but wanted to hear Phil's take on it. They represent a rising tide of investable assets that has been, and will continue to be, poured into the market in the next seven years, thereby driving prices higher. It's just simple supply and demand, really. Stocks produce the best long-term results. Magazine that they have outperformed bonds two to one over the past 65 years.
Stocks have a growth bias, and look how well they have done in the last two years alone.
Why, if I had listened to you, I would have lost a fortune. I know that I had told Dave to reduce his exposure to stocks, but could not recall recommending any money-losing investment ideas. I asked, perplexed. Instead of listening to you, I changed my asset allocation around and moved everything into growth stocks. That's a buying opportunity.