Buy the Market for "Free"

Professor Jeremy Siegel and Jeremy Schwartz have an outstanding article today in the WSJ . The crux of the article concerns the negative real interest rate issue and how that likely plays out with bonds . This leads to the case for stocks using the dividend yields as a starting point. With dividends providing about the same return as a 10 year Treasury , you can currently buy the future growth and appreciation for "free" . This doesn't happen often.