So the 2011 King Of Bonds speaks six years later and enjoys instant credibility. Would be nice to know where he's been on the years-old forecasts for interest rates going up. After reading Levitin's Field Guid to Lies, my skepticism filter is on high for any graphical demonstration in support of a theory.

So why is the REIT index without total return a proxy for the income world and what's with the 24 month adjustment. If bond yields are going to dip and then hit 3% by year's end, where's the credibility in such speculation.

Assuming REIT index remains the same? Just so you can cross the axis to find a point that demonstrates lower dividend returns?

C'mon, that's a fantasy not a statistical extension. Way too many assumptions here, and not nearly enough of the "boring data" that might establish some rationale for all the flights of fancy.

Our resident commenter whose stream-of-consciousness remarks are often a mystery should enjoy this effort!