A Strategy for Losing Money

I can give you a name of a fund trading with the equivalent of a 23% sales charge. It’s actively managed by a company that’s incurred large outflows from its signature mutual fund following the departure of its star chief investment officer. Interested in owning it? You probably aren’t, but some investors were. PIMCO’s Municipal…

 

Bond Market Liquidity and Its Impact on Your Portfolio

There are many headlines warning investors about the next possible financial emergency—the lack of liquidity in the bond market. The meaning of liquidity and the essence of the problem are not obvious. The media tends to look at the bond market as a monolithic block with bond yields either rising or falling. However, there are…