Fears of a “great rotation” out of fixed income have gripped investors for the past few years as the Federal Reserve moves closer to raising interest rates for the first time in nearly a decade. For anyone who has studied the fixed income market, one of the first things you learn is the inverse relationship … Continued
“You wish to surrender to me? Very well, I accept.” – The protagonist Westley in the novel The Princess Bride In the novel The Princess Bride, later made into a cult film, The Dread Pirate Roberts is not one person but several characters who successively take the same name in turn. The arrangement thrives because … Continued
The media is overly focused on propagating a falsehood, specifically, that bonds are now riskier than stocks. This is sensational financial journalism at best and, at its worst, potentially retirement damaging advice. It is a universally accepted truth that the 30-year plus tail wind to bond performance, caused by falling interest rates, is now behind … Continued