Robo-Advisors Are Desperately Clinging To A Dangerous Dogma

``WealthFront is so in love with the idea they wouldn't put any of my money at all into long-term treasuries. Why not? Because they're clinging to a dogma that perhaps worked at one point a long time ago, when stocks were more consistently fairly valued. But this dogma hasn't worked for quite a long time now. Maybe this is why Ray Dalio's firm, which has adopted just the opposite dogma -- overweight bonds versus stocks because they offer better risk-adjusted returns over the long-term, has become the largest hedge fund firm by assets in the world... it may take another painful bear market in equities before the robos learn this important lesson....''