Hi Dilip

I am with Taylor on this one.  If TIPS are the best performing bond fund and offer no value, it follows that we should sell ALL of our bonds and buy swaptions. This is nothing more than a sales pitch for swaptions.  Yup, ditch bonds and buy derivatives for a real secure retirement.  Just like the folks in Orange County.  Real sound investment advice from a swaptions salesman.

Regards

Jim