Glenn Okun pointed me to an entertaining debate between PIMCO’s investment guru Bill Gross and Wharton professor Jeremy Siegel over the merits of investing — now — in equity or bonds. If you’re interested, try one of these or search their names. I especially liked Gross’s characterization of Siegel’s views as “Ivory Tower,” suggesting — somehow — that wasn’t a good thing. What was he thinking?
At the risk of getting the same back, I thought it might be worth reviewing the evidence: What do we know? And what don’t we know? Now you might say that what we know is the past, and what we don’t know is the future, but we can be more specific than that.