“The luck of the third adventure is proverbial.” Elizabeth Barrett Browning After seven years at zero and nine years since the last hike, ‘Lady Janet of Brooklyn’ is poised to move interest rates higher tomorrow. Recent history suggests that the various asset classes ought to tremble with fear. In 2013 when ‘Helicopter Ben’ Bernanke announced […]
“Adventure. Excitement. A Jedi craves not these things.”Yoda Not so long ago, in a galaxy not far, far away, equity markets shed more than 10% of their value. It was a period of great terror and despair. Investors lived in fear of a slowing global economy and the Empire unleashing their much dreaded weapon, the […]
“You can observe a lot by just watching”Yogi Berra What you observe depends on what you are watching. Those watching the Blue Jays were treated to a thrilling ride en route to their first American League Championship Series appearance in 22 years. Those watching their investment account balances and the markets in September experienced a […]
“Everyone has a plan until they’ve been hit.”Joe Louis Those that have seen Ronda Rousey fight (she won three UFC title defences in a combined total of 64 seconds) or have witnessed the ferocity in her eyes cannot fathom why anyone would be willing to step into the ring with her. We suspect many investors […]
There is no Free (Liquid) Lunch | November 2015
The topic du jour in the corporate bond world is liquidity, or more specifically the lack there of. Despite significant growth in the size of the market, it has become increasingly more difficult to buy and sell corporate bonds without moving prices. Many are quick to point the finger at the Volcker Rule and Dodd-Frank […]