, Columnist
Fund Managers in Thrall to TINA Can't Quit Stocks
With the economic outlook slipping and equities priced for perfection, now would be a time to move into bonds. No chance.
There is no alternative; you will buy stocks.
Photographer: Boris SV/Moment Mobile/Getty Images
This article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
Stocks have been following TINA for a while. The acronym comes from the famous words of Margaret Thatcher: “There is no alternative.” Bonds will stay so expensive, and continue to offer such low yields, that investors will have no choice but to buy stocks.