It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
—George Soros, hedge fund manager1
Life insurance companies like MetLife, Prudential, and State Farm have traditionally invested heavily in bonds. These investments have usually provided safety along with competitive yields. They also are more predictable compared to stocks.
But with interest rates at low levels, life insurance ...