An equally weighted portfolio of the five commodities is now higher in real terms than the average of their prices back in 1980 (see chart).

如今，一组相同重量的五种金属的价格，扣除物价因素之后，已经比它们在1980年时候的价格高了。(见图)。

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But when Mr. Zagunis was recently a guest speaker at an investment class at a university, he said, the students showed him a chart of their portfolio, which has performed poorly this year.

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The bottom portion of the chart shows the weight each portfolio held in equities over time.

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Below is a chart for the Powershares Insured Municipal Bond Portfolio, a decent proxy for muni-bonds as a whole.

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