It wasn't clear from the article how long "periods of rising rates" would be, or how periods with no rate changes fit their model.
Jason Zweig is just a (well respected) financial journalist and author. I believe he is telling it like he sees it. He has no agenda other than education as far as I can make out.
That may be the case, but that still doesn't make it clear what MAAH was asking (how long "periods of rising rates" would be, or how periods with no rate changes fit their model).
I guess MAAH was referring to this:
"Since 1913, U.S. stocks have gained an annual average of 9.3% when interest rates fall, but only 2.3% in
periods of rising rates, according to finance researchers Elroy Dimson of Cambridge Judge Business School and Paul Marsh and Mike Staunton of London Business School. Bonds have returned an average of 3.6% annually in periods of falling rates, but only 0.3% when rates rise, the researchers calculate. The results include the effects of inflation."
There is no mention of a model. They were looking at historical averages.