During his keynote presentation at the Morningstar Investment Conference, the PIMCO manager made the case that high debt levels and a need for financial stability mean that central banks should keep real rates close to zero for some time.
Although these conservatively positioned equity, balanced, and bond funds have lagged recently, they should serve investors well in more-volatile markets.
Lightening up on stocks? See if you can't achieve other goals at the same time.
Although some of these common tacks seem sensible, they have drawbacks, too.