Interest rates are nearing a lower bound, David Schawel, CFA, tells Will Ortel during a recent Take 15 interview. “Most likely we’re not going to be in a 30-year bull market for interest rates falling again,” he said. So what does this mean for fixed-income investors?
In my previous life, as a reporter for the Financial Times, I did a stint covering philanthropy. I heard a lot about social entrepreneurship, philanthrocapitalism, and the ways that some philanthropists and nonprofit organizations were tackling some of the world's toughest, seemingly intractable, social ills.
During the global financial crisis, excessive debt was the principal disease. It also turned out to be the principal cure. Whether it was called quantitative easing (QE) or something else, it all meant the same thing: increased debt — both in absolute terms and relative to GDP.
There are many lessons to be gleaned from the financial crisis of 2008, to be sure. I recently came across Bethany McLean's article "The Top Five Unlearned Lessons of the Financial Crisis," and while McLean highlights serious problems, it seems to me that her list doesn't go far enough.
According to Dan Fuss, CFA, there are always opportunities for those who do their analytical homework. At the CFA Institute Fixed-Income Management conference, he examined some of those opportunities in more detail.
While the stock market continues to hit new highs, many would still agree that this recovery isn’t being felt by everyone. However, here are four reasons to be more positive.
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