If you own bonds ( iShares Barclays TIPS Bond ETF ( TIP) , iShares Barclays 20+ Year Treasury Bond ETF ( TLT) , iShares S&P National Municipal Bond ETF ( MUB) , iShares iBoxx Investment Grade Corporate Bond ETF ( LQD) ), and who doesn't nowadays, be ready to jump ship and hope you're not late. I dare not predict when the bubble will go bust. It really could last quite a few years, as in Japan; on the other hand, judging from the zero marginal effect of QE4 and especially if you are optimistic on U.S. economic recovery, we could be close to the turning point. Either way I'd rather stay away from the rat race early and stay with SPDR Gold ETF ( GLD). At the time of publication the author was long gold.Follow @BoPengNYThis article is commentary by an independent contributor, separate from TheStreet's regular news coverage.