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Featuring: Van Hoisington & Lacy Hunt
Van Hoisington is the President and Chief Investment Officer of Hoisington Investment Management Company, a firm with nearly $6 billion in fixed income assets under management for insurance companies, endowments, pension plans, and charitable organizations. The firm also manages the Wasatch-Hoisington U.S. Treasury Fund. Van started Hoisington Investment Management Company in 1980 after serving as Executive Vice President at Texas Commerce Bancshares in Houston. Previously, he was an economist with the United California Bank in Los Angeles. He received his Bachelor of Arts degree from the University of Kansas in 1962 and his master’s degree in business from Fort Hays Kansas University in 1970. Dr. Lacy H. Hunt, an internationally known economist, is Executive Vice President of Hoisington Investment Management Company (HIMCO), a firm that manages nearly $6 billion for pension funds, endowments, insurance companies and others. He is Vice-Chairman of HIMCO’s strategic investment policy committee and also Chief Economist for the Wasatch Hoisington Treasury Bond Fund.
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Deflation Watch
Leading Deflationists in the Press
Research & Commentary
Twenty Year Periods with a Negative Risk Premium
Van Hoisington & Lacy Hunt…The inflation rate, the dividend yield relative to the yield on Treasury bonds, and the P/E ratio suggest that we are coming into a time when stock returns will be considerably diminished relative to the return on bonds…Over very long periods of time stocks must outperform bonds, because investors must be rewarded for riskier assets, and we will experience again in the future conditions that warrant higher prospective returns in stocks…the baseline conditions must change, a process that May result in an extended period when bond returns will equal, or even exceed, returns on stocks.