Observations and Perspectives: Traditional Bonds = Risky Parachutes

Terri Spath | 3/26/2018

During the short nine days of trading from late January to February 8, the S&P 500 fell like a skydiver leaping out of a plane: fast and down. In a classic flight-to-quality response, investors pulled their parachutes, socking billions into the largest ETFs tracking the widely-watched Bloomberg Barclays U.S. Aggregate Bond Index (the “Barclays Aggregate”). This time, though, it didn’t work.


Observations and Perspectives: Take It One Curve at a Time

Terri Spath | 2/19/2018

Right now I am continually inspired by the competing Olympians and I just came across an obscure and just plain crazy sport: “skeleton.” In it, thrill-seeking competitors plummet headfirst down a twisting, frozen track at speeds over 80 miles per hour.


A Fool's Errand - 1st Quarter 2018 Commentary

Terri Spath | 1/17/2018

As Yogi Berra famously quipped, “It’s tough to make predictions, especially about the future.” Nowhere is this truer than in the stock and bond markets around the world. It is a fool’s errand to make bold market predictions, but here we are at the beginning of 2018 and, as usual, economists, market pundits and fortune tellers alike are offering their best guesses for the next 12 months.


Observations and Perspectives: Playing Whack-a-mole in Wacko Season

Terri Spath | 9/14/2017

A widely followed bond guru recently declared that investment markets have entered “wacko season.” Some of his reasons include bitcoin mania and also European junk bonds that yield the same as U.S. Treasuries (which would you invest in)? We do not disagree and would add to his already long wacko and confusion list:


Observations and Perspectives: Passive ETF Investing & Sleepy Markets. Stay Alert!

Terri Spath | 7/18/2017

“The reports of my death have been greatly exaggerated”, quipped Mark Twain after being told a newspaper had published his obituary when he had fallen ill. The death of active management has also been prematurely announced and is rooted in the herds of investors pouring money into passive ETF funds mimicking indexes.