«BST should be licensed and left to the tender mercies of market forces,» says the submission from the Hannah Research Institute in Ayr. (newscientist.com)
In contrast, bond durations as of the end of 2008 were higher than at any time since the early 1950's, so that an investor in 10 - 30 year Treasury bonds is presently assured of a low yield - to - maturity if the bond is held for the long - term, while being at the mercy of market direction even to achieve that low rate of return. (hussmanfunds.com)
In contrast, an investor with a 5, 10, or 20 year horizon was entirely at the mercy of market direction. (hussmanfunds.com)