Most of your friends are going to struggle to make any money in U.S. stocks for the next five to seven years. They’re battling not one, not two, but three major headwinds: Low yields, High valuations, and Rising interest rates. Historically, half of the stock market’s returns (or more, depending on the study you believe) have come from dividends. With the S&P 500 paying just 1.8%, the math isn’t promising. An expensive market is also problematic because it makes rising multiples unlikely. The S&P index trades for 25-times earnings today – where can it really go from here but down? Finally, rising interest rates are a concern for many income investors.… Read more