Back in the Spring, I wrote a blog post about how bonds were riskier than stocks, taking into account the role that they each play in most investment portfolios. I discussed the concern that rising interest rates from such as low starting position would create havoc in portfolios. While I believed everything that I wrote, I did not anticipate just how quickly everything discussed would come to pass.

One of the staple investment beliefs has historically been that “bonds are for protection and stocks are for growth”. While the evidence has generally backed this up, it is important that we balance what worked before with the current and future investment environment. As every investment compliance attorney has said, “past performance is no guarantee of future results”.