Insights

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05 Jul: What If Credit Tightened By Even 1%?

This week I read an article about a company that offers personal loans to folks who are seriously down and out. One of their strategies involves mailing checks for $2,000 to these people’s homes and if the check is cashed it activates a loan agreement that calls…

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13 Feb: The Correction

The heavily anticipated correction finally arrived and somehow it caught everyone by surprise. As is the case in any correction, the market seems fraught with panic and confusion. “How low will it go?” What is the cause? These are the questions being asked broadly…

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28 Mar: The End of The Financial Supercycle

Since I graduated college nearly 35 years ago the yield on the 10-Year U.S. Treasury bond has declined from near 16% to today’s 2%-2.5% trading range level. This tells an important story. The massive decline in yields on all financial instruments during this period…

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01 Dec: The Appeal of Short Duration Investments

As a fund manager I find myself speaking to investors nearly daily.  This gives me a unique insight into the thought patterns of investors, what they value, what they fear, and their predilections. Not surprisingly, investors get very excited very easily, and often…