The banks were told then to introduce a ratio between fixed salary and bonus elements.

BBC: Viewpoints: EU banker bonus cap

The corporate world is ending a five-year binge on capital spending, which has left it with a much higher ratio of fixed costs than when we started this recovery in 1991.

FORBES: Looking Forward, Looking Back

Beyond that, the expenses involved with FLAT are higher than most fixed-income ETFs and ETNs. iPath U.S. Treasury Flattener has an annual expense ratio of 0.75% and also dings investors with a one-cent hit to NAV when it rolls the contracts it tracks.

FORBES: Leveraged Play On The Yield Curve

He notes that on a historical price-earnings ratio basis, the stock market is now undervalued and there is an abundance of money still sitting in fixed income funds.

FORBES: Move up http://i.forbesimg.com t Move down