The financial headlines for stocks in 2009 were littered with exclamations that it had been a lost decade and yet the following 10 years more than made up for the losses. Today, those same media outlets are talking about a lost decade for bonds, and at DLK we will be running our quality investment processes week in and week out selecting the appropriate bonds for our clients.
How are you supposed to have any cash when everyone’s portfolios are off 10 to 20%?
When Does a Bond Not Act Like a Bond? When it is in a Bond Fund.
The most important take-away is still have some income to counteract the impact of a large drop in the stock market in the first few years.
As a grim anniversary loomed, we started looking at the time period through the lens of our investment management discipline.
Like the law of gravity, large numbers and their averages or "means" pull with great force.
The thought of not working can be daunting enough, but the accompanying responsibility of managing the nest egg can be equally challenging.
In our most recent edition we hone in on Mark Halby who may be doing something even riskier than surfing big waves.
You have to be prepared for the two-wave pull down, you can’t just wing it.
We are students of economic history to the end that it affords us to run our processes with the proper amount of patience and perspective.
