Emphasizing dividend-paying value stocks and investing globally will bolster your chances, he said.
Analysts caution that these funds should not be mistaken for conventional value funds, which favor stocks of financial services companies and emphasize dividends.
The second phase occurs when the companies that were left out of the favorable price action change their corporate policies to emphasize dividends over capital gains, to pay down debt and to issue taxable preferred shares.
He has his clients invested in the Wisdom Tree Emerging Markets Equity Income Fund, which emphasizes dividend-paying companies in developing countries, and the PowerShares FTSE RAFI US 1000 index ETF, a fundamentally weighted United States stock index fund.
But in recent years, many investors who were seeking yield emphasized stocks, because federal taxes were lower for dividends than for interest.
To be sure, many traditional mutual funds still emphasize stock dividends, and there are always annuities for those willing to trade a big lump sum for the guarantee of a monthly income stream, whether a specified or variable amount.
He emphasized that a dividend-based approach would give consumers a stronger incentive to change their behavior and give voters a stronger incentive to support significant regulation.
But a close ally, Representative Jim McCrery, Republican of Louisiana, said the Thomas bill would closely track President Bush's proposals and emphasize eliminating the dividend tax.
Administration officials and most Republican lawmakers tried to put the best face possible on Mr. Greenspan's testimony, emphasizing that he had reiterated his support for eliminating the so-called double taxation of dividends.
Our science graduate programs do an excellent job of conveying scientific and analytical skills, but emphasizing skills needed to practice science in a wider range of careers would likely pay large dividends, scientifically and in the employability of graduates.
