“You don’t invest by looking out the rear-view mirror.”

“You invest by looking out the front windshield,” Mr. Bernstein said. “It’s foggy, but you can still make out whether it’s dark or light out. The expected returns on stocks are clearly higher than the expected returns on bonds right now.”

Extract from the Globe and Mail

http://www.theglobeandmail.com/globe-investor/investment-ideas/the-brigh%20t-side-of-stocks-dismal-decade/article2191173/