Equity Illusion

From The Equity Culture Loses It's Bloom:

• In the 1970s investors...held conservative portfolios that were heavy on bonds...The advent of individual retirement accounts and other defined contribution plans would change that in the coming decade. In 1985 individuals held $750 billion in IRA and DC plans; by the market peak in 2007, that number had rocketed to $9.2 trillion.
• The Standard and Poor's 500 index soared from 131.05 to 1,565.153, or 1,194 percent.
• As of September 30, long-term Treasury bonds had beaten U.S. stocks over the past 28 years.
• "Equities depend on capital gains, but income-producing assets, such as infrastructure, are pretty reliable through different economic cycles," notes David Richardson.