In an era of negative bond yields, it has rarely been more challenging to make money in the world’s fixed income markets. On this week’s WEALTHTRACK, veteran Portfolio Manager, David Rolley of the Loomis Sayles Global Bond fund explains how he and his team are both protecting their portfolios and seeking outsized returns in some out of the way places.
Guests
MCCULLEY: PRESCIENT THOUGHT LEADER
Few investors have the prescience of this week’s Financial Thought Leader guest. Long before the 2008/2009 financial crisis he identified the powerful and destructive rise of what he called the “Shadow Banking System”, the unregulated institutions funding the housing and credit bubble. He also coined the phrase “Minsky Moment”, after the economist Hyman Minsky’s theory that financial stability ultimately leads to financial instability, as people and institutions take on more risk. That is exactly what happened.
This week’s WEALTHTRACK guest is legendary bond trader, Federal Reserve watcher and economist, Paul McCulley who spent many years in the top ranks of bond giant PIMCO. What financial forces does he see gathering now?
McCULLEY: WORK/LIFE BALANCE
Legendary bond trader, Federal Reserve watcher and economist, Paul McCulley spent many years in the top ranks of bond giant PIMCO before retiring in 2010 in search of a work/life balance. He returned to PIMCO as Chief Economist for a few months in 2014. We asked him about his latest departure, his current interests, and […]
AHAMED: POWERFUL CENTRAL BANKERS
We discuss the lessons learned and ignored from the powerful central bankers of a century ago. Financial Thought Leader Liaquat Ahamed, the Pulitzer Prize winning author of Lords of Finance discusses the differences and similarities between central bank policies today and those leading up to the Great Depression.
AHAMED: RISING RATE RISKS
Pulitzer Prize winning author, Liaquat Ahamed was a bond manager, Chief Investment Office and CEO of a fixed income management firm long before he wrote Lords of Finance: The Bankers Who Broke the World. We asked him for his views of the bond markets today, especially considering the Federal Reserve’s long anticipated interest rate hike. […]
SMITH: JESUIT EDUCATION
Stephen Smith, founding portfolio manager of the Legg Mason Brandywine Global Opportunities Bond fund and finalist for Morningstar’s 2014 Fixed-Income Fund Manager of the Year is known as a contrarian investor. Smith takes on consensus views about oil prices, interest rates and the outlook for global growth. What difference did a Jesuit education, specifically at […]
