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investing bonds 101_ 3strategies for long term investors
Thanks for posting the article which I enjoyed reading about the three strategies covered. Although, I had a good awarness of these strategies, as most readers of the board do, it was good to see them put into written words.
After all, everyone that visits and reads the board does not have the same investment skill set and for some this just might be a learning article.
Thanks John. Enjoyed skimming through the piece. Covers a lot of bases.
The problem some may have is that it's pretty elementary. And in an era of near 0, and even negative yields, some of those old basics may no longer apply. But I would have found such an article of great value a couple decades ago when I stopped (front-loaded) investing with an advisor who made all the calls and began managing my own money. Am convinced from some of the posts we get that many fund investors are unaware of some of the simple basics of fixed income investing - particularly the inverse relationship between yields and price of security.
davidmoran was an editor in the industry, so I respect his insights. Perhaps he's detected something in the writing style itself that makes the writing appear dated? I sense that a bit too - but can't pin it down.
Thank you for the Link to this Joshua Kennon article. Over many years I have been informed by his many fine financial articles. This one did not disappoint in that regard.
Kennon mostly directs his writings towards neophyte investors. After many years, I am not a novice investor, but since I have no formal training in that arena, my amateur knowledge base is somewhat spotty. It has holes that Kennon can and does fill.
Although I read Benjamin Graham’s “The Intelligent Investor”, it completely escaped my memory that Graham recommended a portfolio asset allocation that had a 25% bond holding floor and a 75% bond position ceiling. I didn’t recall these limits to his conservative investing approach. I wonder if his student, Warren Buffett, shares the same or similar portfolio construction constraints.
Comments
Good God, who thinks and writes like that today.
It was all I could do to slog on and read this drivel to the end.
Short-term chiefly, not too much, whacketa-whacketa ....
Thanks for posting the article which I enjoyed reading about the three strategies covered. Although, I had a good awarness of these strategies, as most readers of the board do, it was good to see them put into written words.
After all, everyone that visits and reads the board does not have the same investment skill set and for some this just might be a learning article.
Old_Skeet
The problem some may have is that it's pretty elementary. And in an era of near 0, and even negative yields, some of those old basics may no longer apply. But I would have found such an article of great value a couple decades ago when I stopped (front-loaded) investing with an advisor who made all the calls and began managing my own money. Am convinced from some of the posts we get that many fund investors are unaware of some of the simple basics of fixed income investing - particularly the inverse relationship between yields and price of security.
davidmoran was an editor in the industry, so I respect his insights. Perhaps he's detected something in the writing style itself that makes the writing appear dated? I sense that a bit too - but can't pin it down.
Thank you for the Link to this Joshua Kennon article. Over many years I have been informed by his many fine financial articles. This one did not disappoint in that regard.
Kennon mostly directs his writings towards neophyte investors. After many years, I am not a novice investor, but since I have no formal training in that arena, my amateur knowledge base is somewhat spotty. It has holes that Kennon can and does fill.
Although I read Benjamin Graham’s “The Intelligent Investor”, it completely escaped my memory that Graham recommended a portfolio asset allocation that had a 25% bond holding floor and a 75% bond position ceiling. I didn’t recall these limits to his conservative investing approach. I wonder if his student, Warren Buffett, shares the same or similar portfolio construction constraints.
Best Wishes.