Enterprising Investor
Practical analysis for investment professionals

bonds


Managing Regret Risk: The Role of Asset Allocation

Regret risk is a quantifiable phenomenon. The answer for some clients may be equally weighted portfolios.

Actively Managed Credit Strategies Can Meet Impact Goals, Alpha Targets

Profitability and sustainability are not mutually exclusive in active credit strategies.

Book Review: Investing in U.S. Financial History 

Mark J. Higgins, CFA, CFP's epic book offers invaluable context for forecasting the direction of the economy and the market.

Return to Tradition? Three Reasons to Consider a Bond Allocation

As the Fed nears its terminal rate, bonds may reassume their traditional role as a portfolio “diversifier.”

Do Better ESG Ratings Boost Bond Holders?

Does the bond market view companies with better ESG ratings as better credit risks?

Does Bond Market Data Yield Equity Alpha?

Equity portfolios constructed using bond momentum signals may outperform their traditional equity price momentum counterparts.

Resistance Training: Testing Market Resilience

Now may be a great time to stockpile excess capital to tactically deploy in the coming months if the opportunity set improves.

The Predictive Power of the Yield Curve

The predictive power of the yield curve is a widely accepted causal narrative. But the history shows that the causal correlation between long and short rates is actually quite weak.

Distressed Debt: Which Sectors Offer Value?

The current environment may be the best that credit investors have seen in at least a generation.

Stressed and Distressed Credit: Risk and Reward

As Warren Buffett said, “You only find out who is swimming naked when the tide goes out.” Well, the tide is going out and as businesses refinance at higher rates, default rates and distressed exchanges are likely to increase.