Hightower Investment Strategist Stephanie Link: Bonds Are Back, but Don’t Forget Stocks

With bonds yielding 5% or more, it’s easy to love fixed income right now. But don’t get swept away, says Stephanie Link, the chief investment strategist at Chicago-based Hightower Advisors, which manages more than $100 billion of client assets. “You don’t want to forget about equities, because the long-term total return average for the S&P 500 is 7.7%,” the 31-year investment industry veteran says. “If you’re holding on to fixed income, I think you have opportunity cost.”  

Speaking with Barron’s Advisor, Link says she sees…