Memos

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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Memos

Q3 2022 Memo

Fixed Income markets are now offering one of the best opportunities we’ve seen in the last decade. A confluence of events – higher interest rates, financial turmoil in the UK, and forced liquidations by fund managers

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Memos

Q2 2022 Memo

Investment industry custom is often to write provocative quarterly letters – a custom we’ve adhered to often in the past. This quarter we’ll be brief. At current levels, fixed income yields are more attractive than at any time in the recent past, save for brief moments at the onset of the pandemic.

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