[spekcular]

The book "Lifecycle Investing," by Yale professors Nalebuff and Ayres, argues that a young person ought to invest 100% or even more (via leverage) in stocks. (More specifically, a young person with high future earning potential, which probably includes many people here with a career in tech.)

I'm fairly risk averse and don't totally believe their leverage calculations. But it did convince me that any non-negligible bond allocation is probably suboptimal.

[ghaff]

Even just a few years back, some top-rated corporate bonds (e.g. Microsoft) weren't a bad investment--although equities of course ended up doing much better. These days? I'm not sure there's anything that's not one step away from putting money under the mattress that makes sense outside of equities.