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SAFE HAVEN INVESTING WITH FPA NEW INCOME FUND’S TOM ATTEBERRY

July 24, 2020

Safe haven investments are hard to find these days, which is why we need them more than ever.

We are faced with risks we haven’t experienced in living memory. A truly global and spreading pandemic, rolling government lockdowns, unprecedented involvement in securities markets by the Federal Reserve and other central banks, and massive stimulus from governments with payments to individuals and businesses.

Normally when corporate and government debt soars to record levels bond markets get nervous, bond prices fall and interest rates rise as investors worry about getting paid back.

Not in today’s environment. The Fed has essentially pledged to keep short-term interest rates near zero and backstop numerous types of loans to prevent businesses from going bust and laying off workers.

That assurance and the “don’t fight the Fed” adage seem to be enough for most fixed-income investors who continue to chase yield, driving bond prices up and interest rates down.

Not this week’s guest. Tom Atteberry is a Portfolio Manager of the flagship FPA New Income fund. Atteberry brings us up to speed on conditions in the bond market, and how they have changed since Covid-19.

Atteberry will also share his One Investment recommendation with us – it might surprise you!

WEALTHTRACK Episode #1704; Originally Broadcast on July 24, 2020

Listen to the audio only version here:

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THOMAS H. ATTEBERRY


OWN SOME SAFE HAVEN INVESTMENTS

  • VOLATILITY ON THE UPSWING
  • MORE FREQUENT MARKET DISLOCATIONS
  • GROUP THINK DRIVEN BY ALGORITHMIC TRADING

No Bookshelf titles this week.

HOMEOWNERSHIP OPPORTUNITY

CONSIDER BUYING A HOME

  • Record low mortgage rates
  • Below historic rate of home price appreciation
  • Makes long-term sense

No stock mentions in this episode.

Archive episodes available soon.

WHY TRADITIONAL BONDS ARE HIGH RISK, BUT MUNIS HAVE ADVANTAGES. TWO TOP BOND MANAGERS EXPLAIN

Two influential bond managers explain why municipal bonds still make sense and so many corporate and Treasury bonds don’t.
WATCH NOW…

PANDEMIC CHANGES

Award-winning short-term fund manager, Tom Atteberry reflects on some of the longer-term adjustments he is making in his personal and professional life as a result of COVID-19.

PANDEMIC UNCERTAINTY RISKS AND A RENEWED EMPHASIS ON GOLD AS A LONG TERM SUBSTITUTE FOR CASH

July 17, 2020

There are a few moments in one’s lifetime when the geopolitical and economic backdrop truly changes. COVID-19 and its aftermath are one of those moments. I call it “The Pandemic Pivot”.
The combined shocks of a highly contagious and in some cases deadly virus, global economic shutdown, rising populism, and global unrest are upending the old world order and introducing new disruptive dynamics yet to be fully realized.
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ALL THE REASONS TO BE BULLISH WITH LEGENDARY VALUE INVESTOR BILL MILLER

July 10, 2020

We are living in extraordinary times. We are calling it the Pandemic Pivot: the changes that have occurred or accelerated because of COVID-19 and the dramatic response to it, from economic shutdown to massive life support.
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A RARE IN-DEPTH INTERVIEW WITH GREAT INVESTOR BILL MILLER ON WHAT THE PANDEMIC HAS CHANGED

July 3, 2020

We are marking the start of this season with the introduction of a new series. What we are calling the “Pandemic Pivot” – the rapid economic, market, and geopolitical shifts we are experiencing during the global health crisis. Through lockdowns and re-openings, the changes have been dramatic and swift. The huge, largely government-induced shutdown of global commerce ended the record-breaking economic recovery and the bull market in the U.S. The massive monetary and fiscal stimulus in response led to the shortest bear market in history and what could turn out to be the briefest recession ever – the jury is still out on this.
Continue Reading »

ROSENBERG UPDATE

June 26, 2020

Widely followed market economist David Rosenberg has been warning about the recovery and bull market’s vulnerabilities long before COVID-19 struck. The pandemic has only increased his concerns. His recent two-part interview with WEALTHTRACK generated so much interest that we he is also sharing his most recent comprehensive “Breakfast with Dave” newsletter to bring us up-to-date on his latest observations.


Download the newsletter [.pdf]

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