3 min readAs we approach the first rate hike cycle in almost a decade, it makes sense for cash investors to take stock of the state of the economy, as well as the Fed’s view of it. The pace at which the Fed raises interest rates will be important to anyone managing a cash portfolio, and close…
3 min readIntroduction How long does it take for “green shoots” to grow into a “soft patch”? For the U.S. economy, it has taken a little more than two years. In his famous 60 Minutes interview on March 15, 2009, Federal Reserve Chairman Ben Bernanke popularized the phrase “green shoots” to describe the growing confidence in the…
2 min readFederal Reserve Chairman Ben Bernanke recently laid out his plans to lawmakers on how the Fed will eliminate programs, when needed, which pumped hundreds of billions of dollars into the financial system. In an op-ed piece for the Wall Street Journal, he wrote that the strategy is ready to be put to use, but noted…
3 min readRecent credit market events have stress-tested corporate cash portfolios more than at any time I can recall in my 28-year investment career. These events are shocking in scope and have threatened our financial system in ways not seen since the Great Depression. Because it’s so easy to “lose sight of the forest” in this unprecedented…