FYI:
Regards,
Ted
May 31, 2018
Dear WEALTHTRACK Subscriber,
It’s the start of summer pledge season on Public Television, as a result WEALTHTRACK might not be airing on your local station. Consequently we are revisiting some interviews that have been of great interest to our viewers.
This week we have an exclusive interview with outspoken Treasury bond manager Robert Kessler.
What’s to blame for the sea change that has occurred in the financial markets in recent months?
The almost universal answer from Wall Street is that the disruption in the financial markets has been caused by an acceleration in global growth, a pickup in inflation from abnormally low levels and the withdrawal of years of stimulus from major central banks.
There is also another factor at work in the U.S.: the huge expansion in government spending. The recently negotiated 2-year budget deal adds nearly $300 billion to government spending. By some estimates the Treasury will need to issue more than a trillion dollars in bonds a year to cover the burgeoning federal budget deficit.
Is this just one more reason to avoid U.S. Treasuries? Financial luminaries such as Warren Buffett, former Fed chairman Alan Greenspan, and current and former so-called bond kings Jeffrey Gundlach and Bill Gross would say, yes. At various times in recent years they have all called bonds, including Treasuries, extremely expensive, if not downright dangerous investments.
Not so, says Robert Kessler. Kessler is Founder and CEO of Kessler Investment Advisors, a manager of fixed-income portfolios with a specialty in U.S. Treasuries for institutions and high net worth individuals globally. For years Kessler has been correct in predicting interest rates would fall and stay low and also in recommending Treasuries for their investment potential and safe haven characteristics. What’s his view now? We’ll find out.
New, and exclusively on our website this week, we tackle one of the questions we are often asked: "How do I find a good financial planner?" Jamie Hopkins, Co-Director of the Center for Retirement Income at The American College of Financial Services, shares his thoughts on how to find the right advisor. It's available for our PREMIUM viewers right now, and for everyone else it will be available over the weekend.
You'll also find more from Robert Kessler in our EXTRA feature online. Kessler addresses risk and how his regular rock climbing expeditions have influenced his investment perspective.
Thank you for watching. Enjoy the weekend and make the week ahead a profitable and a productive one.
Best regards,
Consuelo
