16 Aug 2021

What Kills a Bond Portfolio

Even if everything goes according to plan, we are probably stuck with zero percent on cash for the next few years. We’ve been in this situation for so long that it almost seems normal, and with some negative interest rates elsewhere around the world, sometimes zero even seems good (actually, it never does, but negative is just so bad). Earning nothing is so lousy that every once and a while,… Read More

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9 Aug 2021

The Fed and the Long Term

Over the weekend, I watched a Front Line documentary on PBS that came out in July, called The Power of the Fed. You can watch it here, although you may have to be a member (like me!). The documentary chronicles the power of the Federal Reserve, with particular attention to the bond-buying program called quantitative easing that followed the 2008 global financial crisis. The documentary makes the case that the… Read More

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