Bloomberg recently ran a piece entitled, How ‘Safe’ Investments Could Destroy Your Portfolio, focusing on strategies investors have historically pursued for income that could lead them astray in the current market environment. Broadly speaking, we agree with the sentiment here. Due to the U.S. Federal Reserve’s zero interest rate policy, investors have been pushed out the risk curve in order to meet their income requirements or total return expectations. Thus, a normalization in Fed policy could prove problematic for certain “yield” assets such as dividend equities, high yield bonds, and other sorts of alternative income strategies. We are attempting to mitigate these risks in our clients’ portfolios by shifting away from dividend equities and not taking on excess credit and/or interest rate risk in order to reach for yield .