@article {Murphy23, author = {Austin Murphy}, title = {Stock Investments May Earn Less Than Bonds in the 21st Century}, volume = {11}, number = {2}, pages = {23--24}, year = {2002}, doi = {10.3905/joi.2002.319502}, publisher = {Institutional Investor Journals Umbrella}, abstract = {The hypothesis that equity returns may be lower than returns on bonds in the coming century is supported by evidence showing the relatively poor past performance of international stock markets, the relatively low current yields on U.S. equities, and the relatively limited prospects for future profit growth in the U.S.}, issn = {1068-0896}, URL = {https://joi.pm-research.com/content/11/2/23}, eprint = {https://joi.pm-research.com/content/11/2/23.full.pdf}, journal = {The Journal of Investing} }