Disappointed with Bonds
I know the spiel. Bonds are supposed to be there when your stocks take a downturn. But, God, short-term securities seem to be the better investment. In "The Simple Path to Wealth", J.L. Collins (a fellow BogleHead) says that stocks hedge against inflation, while bonds hedge against deflation. Is deflation a serious risk these days? Our government is never going to learn how to quit spending money. They promise. They never deliver. Given that, how the *hell* could we have deflation anytime soon?
I bought BND like I was told. Now someone convince me it was a wise choice. It keeps going down. It has a terrible history. You have to go back 10+ years to even have a scenario where it was growing (except for last 2 years overall.) I'm roughly two years from retiring, btw.