From the following concluding paragraphs of Rick Ferri's article,
Individual bonds and bond mutual funds are going to deliver a punch sometime in the next few years, but it won’t be a deadly blow. I don’t have a good answer for what is coming, except to say that broad diversification helps, and don’t fight the Fed by trying to predict the timing of their balance sheet unwinding. We’re prepared to muddle through a difficult bond market in the same way we’ve been muddling through a difficult stock market since 2007 – diversify, rebalance, and stay the course.
Fed Chairman Ben Bernanke and the FOMC will likely begin unwinding their balance sheet in a slow and controlled manner starting around 2014. The process will reduce the total return of every bond portfolio over the next decade whether an investor holds individual bonds or mutual funds. Think of it as giving back gains that we should have never earned. On the positive side, I don’t believe rates will soar during the unwinding. This should make the reversal somewhat palatable, whenever it comes.
I get the notion that he said that bonds and Treasuries performance will most likely to be lousy, and the only question is how lousy it is going to be. Note the sentence that I bolded above. So, if there is not likely to be any upside left, then what's the point? It must be for diversification, just for the sake of it.