1.74% Long-Term Yields Is a Bet Against the Bozos

I’ve published no fewer than four weekly commentaries in recent months that reiterated my extreme bullishness on long-term bonds. Even so, the trading vehicle we’ve used to play the move, an ETF with the symbol TLT, has been on a rampage so steep that even I’m surprised at its relentless power. Keep in mind that my actual forecast is for yields on the 30-year to fall to 1.74%.  I LOVE this bet, since most of the bozos in the investment world are still on the wrong side of it.