Ultra-low Interest Rates (Profit-Loss Chart)

Stephen B. Blumenthal
Chairman & CEO
CMG Capital Management Group, Inc.

“We’ve had a lot of QE and we are not sure if it works.”

– Former Dallas Fed President, Richard Fisher (Source)

One of the best reads for me this week came from the creative pen of Danielle DiMartino Booth.  She was an analyst at the Dallas Federal Reserve for Richard Fisher and, boy, do I admire her wit and moxie.

In what may be one of my all-time favorite reads, Danielle titled the piece The Bond Market: Beware of Junkyard Dogs.  Danielle brilliantly connects singer-songwriter Jim Croce’s passion for junkyards and his love for cars to the sad fundamental state of the high yield junk bond market.  Croce’s junkyard obsession...