Quick, which has been the hottest investment since 1982, stocks or Treasury bonds? Surprisingly, the Treasurys have done better, if you bought them in the form of long-maturity zero coupon bonds. Few investors, I would wager, have any good idea how huge the profits from bonds can be when interest rates are falling. But it's not too late to learn this lesson and put it into practice. If my forecast of deflation and falling interest rates is correct, then you have another chance to beat stocks by owning zero coupon Treasury bonds over the next few years.
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