Memos

Q3 2023 Memo

7 YEARS AT SEABIRD SEABIRD MUNI+: +49.3%S&P Muni Bond Index: +0.99% SEABIRD INCOME+: +62.3%Bloomberg Agg Bond: -0.09% When Seabird opened its doors 7 years ago, we didn’t set out to outperform our peers. In fact, we’ve never given a single thought to our peers when making an investment decision. Then

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Q2 2023 Memo

FIXED INCOME If you’re looking for cheap entertainment this summer, look no further than the fixed income markets as they spasmodically react to each and every emanation from the Federal Reserve and the Bureau of Labor Statistics. To us it’s a level of mindlessness that can only be achieved by

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Q1 2023 Memo

FIXED INCOME Fixed income investing should be a relatively uneventful investment strategy; investors lend money and collect a series of scheduled interest payments until loans come due and payable on a defined date. The fact that we purchase these investments in the open market – rather than initiating the loans

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Q4 2022 Memo

Happy days are here again! Well- that may be a bit of an exaggeration, but the fixed income playing field has certainly grown more attractive than it’s been in decades. Entering 2023…

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