23 April, 2021
Quarterly Newsletter 4th Quarter 2020
Melt Up by Daniel Eye Market Update U.S. and global equities advanced by double-digits in the fourth-quarter, posting their third-straight quarter of gains since the deep declines in February and March. Positive vaccine developments played an outsized role in setting the tone of the markets. Market optimism was also underpinned by a[...] Continue reading25 January, 2021
The Asteroid & the Portfolio Manager
Fidelity Investments has finally done it. The large Boston-based fund manager recently cut the management fees on two of their index-oriented stock mutual funds to zero—nada—NOTHING. Their arch rival Vanguard Group pioneered cheap, index-based investing in 1974. Forty-four years later, after decades of competitive innovation, fee-cutting and marketing hocus between[...] Continue reading13 September, 2018
No backing down for the Fed
The events of the third quarter of 2017 were full of sound and fury, but really didn’t signify much in the U.S. bond market. Interest rates on the ten-year Treasury bond began the quarter at 2.29 percent. July was flat, but August dawned to a round of North Korean sabre rattling and a series of hurricanes that had interest rates “free fallin” (as the late, great Tom[...] Continue reading21 November, 2017
Mastering Limited Partnerships
For the last seven years, interest rate suppression by central banks worldwide has forced investors to reach for higher yielding investments. High cash payouts relative to the puny yields available on money funds and certificates of deposit have made Master Limited Partnerships (MLPs), Real Estate Investment Trusts (REITs), High Yield bonds and dividend-paying stocks[...] Continue reading24 November, 2015
