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Stocks or Bonds? Two conventional investing principles are: (i) stock and bond mar-kets are alternatives - when the stock market turns down, move into bonds

Stocks or Bonds? Two conventional investing principles are: (i) stock and bond mar-kets are alternatives - when the stock market turns down, move into bonds and viceversa - and, (ii) the stock market outperforms over the long run but with higher volatil-ity. Do these these two rules make logical sense and are they well supported by the dataor not?

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