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Although the din about rising inflation has diminished since about 2010, we still hear concern from clients now and then, particularly when discussing bond portfolios. Investors worry that committing to longer bonds at current “low” interest rates is a bad … Continue reading
We’ve said it before, but we will say it again: Economic growth does not necessarily translate to a good stock market. China’s economy has grown strongly over the last few years and although the rate of growth has slowed recently, … Continue reading
We spend a lot of time thinking about things that other people don’t. The most common question we ask at strategy meetings is “What do other investors hate right now?” That’s our playground – whatever everyone else doesn’t like. Greek … Continue reading
Although default rates on municipal bonds have remained extremely low, the outcome of default and its effects on bondholders is evolving in the few cases that do exist. There are two facets to repayment of municipal debt: willingness to pay, … Continue reading
We decided to demote the Euro crisis from “crisis” status to “status quo.” Let’s face it: Greece has been in slow motion destruction for three years now. Spain and Italy have been grinding along on the edge for nearly as … Continue reading