Totally agree like he was speaking in code. I started buying bonds about 18 months ago primarily investment grade non callable utilities with some industrials. I am just retiring so my emphasis is on income as I am planning on buying and holding. I have gotten my average duration out to about 10 years and have an average YTM of about 5.75%. Biggest takeaway I’ve learned is that buying bonds is 100% about timing and you have to watch rates daily particularly the 10 year treasury. I would never again buy a bond fund just buy the bonds myself. I also believe that Central Banks will soon be back to near zero interest rates and massive QE as interest on the debt could easily be $2-3T within 10 years if they don’t bring them back to near zero
Thanks for the great interview with Mr Ivasyn, Wealthtrack! Groucho Marx lost a lot in the stock market crash of 1929 and told his friends investing in bonds was the way to go. When his friends told him he wouldn't make any money in bonds, he responded: You can when you own enough of them!😀
It’s only exciting if you buy into one of his highly levered and dangerous closed end funds . The plain vanilla total return isn’t even 4%. The carnage in these closed end funds in 2022 was epic
I love how your guest frames inflation by excluding energy and food prices! Could there be anything more important that effects every consumer in this and other countries? He's right about it being a good time for investors to buy short term individual Treasuries and Money Market funds, at least for the short term!
Worse YET..he's pimping bond FUNDS, not individual bonds, bought at issue, and held to maturity; which is the only TRULY safe way, to own bonds..and he DAMN WELL knows that! BUT..look at where he works, what do you expect.
There is no argument that high yield was a bad place to be when interest rates were being increased. What did you guys do? Did you stay in high yield and just watch your holdings go down for the previous year and a half until they bottomed and then fail to get back in earlier this year? A lot of sour grapes.
I wouldn't invest in a bond fund with HIS money, let alone my own. I don't care how lucky (and that's all it is, LUCK) he got with his fund, when other bond funds were going down in '21-22. The objective for owning bonds, is supposed to be SAFETY. Leave capital-gain potential, to the equity side of your portfolio. The ONLY truly safe way to own bonds, is to individually buy them at issue, and hold them to maturity..and he knows that.
To anyone financially astute, of course bonds are not a safe place in a rising, especially rapidly rising, interest rate environment. Blame yourself for losses, not the bonds. Sheesh.
What planet has he been visiting in the past 4 years? Bond funds took a beating and have not been a good diversifier to stocks. 3-6 month Treasuries and money market funds yield 5.25% and 6-20 month CDs yield over 5.5% with no credit risk.
![Avoiding Disastrous Mistakes: The Danger of Portfolio Volatility in Retirement [2019]](http://i.ytimg.com/vi/jbDn3BUYNLE/mqdefault.jpg)
![Avoiding Disastrous Mistakes: The Danger of Portfolio Volatility in Retirement [2019]](/img/tr.png)
PIMCO is my go to source for economic information. Thank you for this interview.
Totally agree like he was speaking in code. I started buying bonds about 18 months ago primarily investment grade non callable utilities with some industrials. I am just retiring so my emphasis is on income as I am planning on buying and holding. I have gotten my average duration out to about 10 years and have an average YTM of about 5.75%. Biggest takeaway I’ve learned is that buying bonds is 100% about timing and you have to watch rates daily particularly the 10 year treasury. I would never again buy a bond fund just buy the bonds myself. I also believe that Central Banks will soon be back to near zero interest rates and massive QE as interest on the debt could easily be $2-3T within 10 years if they don’t bring them back to near zero
I like your one suggestion. Your guest spoke a lot but didn't say much.
He could have said "T-bills and chill.". But then there are another 20 odd minutes of silence to fill.
Thanks for the great interview with Mr Ivasyn, Wealthtrack! Groucho Marx lost a lot in the stock market crash of 1929 and told his friends investing in bonds was the way to go. When his friends told him he wouldn't make any money in bonds, he responded: You can when you own enough of them!😀
It’s only exciting if you buy into one of his highly levered and dangerous closed end funds . The plain vanilla total return isn’t even 4%. The carnage in these closed end funds in 2022 was epic
I love how your guest frames inflation by excluding energy and food prices! Could there be anything more important that effects every consumer in this and other countries?
He's right about it being a good time for investors to buy short term individual Treasuries and Money Market funds, at least for the short term!
Love how he frames betting on a recession as a being growth period (for bonds prices)
Go figure, a bond guy recommending bonds. Thanks for the info.
Worse YET..he's pimping bond FUNDS, not individual bonds, bought at issue, and held to maturity; which is the only TRULY safe way, to own bonds..and he DAMN WELL knows that! BUT..look at where he works, what do you expect.
@@jamesmorris913 We all know that! He's a bond fund manager, what else do you think he would recommend?
There is no argument that high yield was a bad place to be when interest rates were being increased. What did you guys do? Did you stay in high yield and just watch your holdings go down for the previous year and a half until they bottomed and then fail to get back in earlier this year? A lot of sour grapes.
I wouldn't invest in a bond fund with HIS money, let alone my own. I don't care how lucky (and that's all it is, LUCK) he got with his fund, when other bond funds were going down in '21-22. The objective for owning bonds, is supposed to be SAFETY. Leave capital-gain potential, to the equity side of your portfolio. The ONLY truly safe way to own bonds, is to individually buy them at issue, and hold them to maturity..and he knows that.
To anyone financially astute, of course bonds are not a safe place in a rising, especially rapidly rising, interest rate environment. Blame yourself for losses, not the bonds. Sheesh.
Happy mother's day professor.🦋
A recent source for my economic information is former fed employee, Danielle DiMartino Booth
he seems to be master of speaking a lot but telling nothing… or i hearing a lot and understanding nothing
Interview Robert Robotti
What planet has he been visiting in the past 4 years? Bond funds took a beating and have not been a good diversifier to stocks. 3-6 month Treasuries and money market funds yield 5.25% and 6-20 month CDs yield over 5.5% with no credit risk.
"Past 4 years"? Really???? Do you have access to bond return data?
@@ggttuuxx Yes. Don't you?
Why are crypto evangelists commenting on Pimco’s fixed income fund?
Trust is broken. Few want bonds.