Bonds 'No Place to Be,' Favor Dividend Stocks

Investors should avoid bonds and buy stocks in companies paying high dividends, and the Federal Reserve should reconsider its low-interest-rate policy, according to Michael Steinhardt, whose hedge funds returned more than 20 percent a year for almost three decades.

"Bonds are no place to be," Steinhardt, 71, who is now chairman of New York-based WisdomTree Investments Inc., said in an interview today on Bloomberg Television's "Money Moves" with Carol Massar. "Equities are cheap by historic standards. Equities that pay high dividends relative to bonds, relative to the stock market, I think that's a good place to be."

Source: San Francisco Chronicle

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