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January 24, 2012 - Vol 6 Issue 4    
                            

    

Dear Reader,         

 

Join us on February 2, 2012 for a complimentary webinar, "Today's Managed Futures Market," with Arrow Funds.  Webinar attendees will gain an insider's perspective on managed futures as renowned commodities trader and index developer Victor Sperandeo shares his market insights.

         

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star logoMichael Lewis on the True Depth of the Crisis in Europe
       By Larry Siegel

Michael Lewis is a financial writer and author, most recently of Boomerang: Travels in the New Third World, in which he reported on the European debt crisis from several of the affected countries.  In this interview, he discusses a range of topics, including the future of Wall Street and the challenges of great financial writing.

 

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star logoReviewing (and Renewing) Our Case for Munis and Core Muni Funds

       Sponsored Content by American Century Investments

 

Positive municipal bond (muni) performance in 2011 was a surprise to many after the angst at the end of 2010. While a relative performance encore of last year's magnitude might be difficult to muster, we believe muni market fundamentals remain resilient, which is the cornerstone of our case for munis and muni funds in 2012 and beyond.

 

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star logoBeyond Reinhart and Rogoff

       By Robert Huebscher

 

My article two weeks ago, The Misreading of Reinhart and Rogoff, elicited a number of challenges, both from those who argued that excessive debt imperils our economic growth and from those who claimed that my proposed solution was unworkable. Among those challengers was Lacy Hunt, who raised several valid concerns. I will explain why I disagree with Hunt and others, and why the dollar's position as the reserve currency increases our borrowing capacity. But our ability to borrow cannot be a license to spend unwisely, and I will conclude by expanding on the policy choices the US must pursue.

 

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National Survey Results: Why Investors Hire and Fire 

Advisors

        Sponsored Content by ByAllAccounts

 

See what investors have to say about forming and maintaining relationships with advisors, including; how investors find advisors, criteria they use to evaluate them, services they expect to receive, why investors fire advisors, and why they become loyal clients. Download the Results Now!

 Download Now 

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star logoA Five-Minute Strategy to Achieve Key Goals

       By Dan Richards 

 

New research yields important insights on achieving change - whether it be losing weight or advancing your business. One surprise: A five-minute exercise dramatically raises the chances of hitting your goals.

 

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star logoFeatured Videos (click the thumbnail to view)

       By iShares

 

iShares Video There's No Such Thing as Free Yield

by Steve Laipply 

 

In this low rate environment, investors are searching for fixed income products to add to their portfolios that can generate higher yield. But in this video Steve Laipply, a member of BlackRock's Model-Based Fixed Income Portfolio Management Group, cautions that there's no such thing as free yield. Often, products that generate higher returns also involve greater risks.

 

 

iShares VideoThe ETF Landscape: A Look Back at 2011's ETF Flows 

by Jennifer Grancio

 

In 2011, $150 billion flowed into exchange traded products globally, with one of every three new dollars being allocated to fixed income funds. In this video, Jennifer Grancio, head of Global Business Development for iShares, explains the factors that drove this trend and how investors are using ETPs to actively manage their fixed income portfolios.

   

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star logoDale Mortensen on Addressing Unemployment

       By Dan Richards 

 

Dale Mortensen is an economist, a professor at Northwestern University and a co-winner of the 2010 Nobel Prize in Economics.  In this interview, he discusses the unemployment situation in the US.  This is the transcript; a video of the interview is also available.

 

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star logoMust Bond Investors Fear Rising Interest Rates?

       By Andrew D. Martin

 

Thirty-one years ago, in 1981, the one-year Treasury reached its all time high of 14%. Today it hovers around 0.10%. Never before have interest rates fallen so far. Many economists and investment advisors, seeing nowhere to go but up, expect interest rates to climb from these historic lows.  But that would not be the catastrophe that many bond investors fear.

 

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star logoNew Tools to Help Clients with Retirement Decisions

       By Joe Tomlinson

 

Our clients face a range of financial planning issues, and the arrival of retirement typically involves making numerous decisions. Here is a set of tools that provide useful information to professionals who work with clients on the verge of retirement - especially financial advisors, accountants and lawyers.

 

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star logoLetters to the Editor

 

Two readers respond to Robert Huebscher's article, The Misreading of Reinhart and Rogoff, which appeared on January 10, and a reader responds to Matthew Jarvis' letter to the Editor last week, which was in response to Wade Pfau's article, GLWBs: Retiree Protection or Money Illusion?, which appeared on January 10.

 

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star logoHighlights from Market Commentaries

   

Dwelling In Uncertainty

 

When unseen states of the world have to be inferred from imperfect and noisy observable data, there are a few choices when the evidence isn't 100%. You can either choose a side and pound the table, or you can become comfortable dwelling in uncertainty, and take a position in proportion to the evidence, and the extent to which each possible outcome would affect you.

Tags: Equities Bearish US

 

Dwelling In Uncertainty by John P. Hussman of Hussman Funds

 

Rock Bottom: Housing May Have Already Hit It

 

A comprehensive (read: long) and chart-filled update on housing suggests the bottom may largely be in. Pricing may have more downside and real mortgage rates need to decline further, but most other metrics are flashing green. New themes: housing becoming "local" again, and for now, renting is trumping buying.

Tags: Bullish US Housing

 

Rock Bottom: Housing May Have Already Hit It by Liz Ann Sonders of Charles Schwab

 

The Great Deleveraging Myth

 

Theres been talk in the blogosphere lately aboutwhether or not developed economies are deleveraging, i.e. winding down their debt. Some recent posts, under headlines such as The Age Of Consumer Deleveraging Is Over and Deleveraging is So 2011, have argued that at least in the United States, consumer deleveraging appears to be a thing of the past. My take, however, is that in many sectors of the US economy, deleveraging hasnt happened at all. In fact, the notion that the United States is deleveraging is mostly a myth.

Tags: US Sovereign Debt

 

The Great Deleveraging Myth by Russ Koesterich of iShares Blog

 

 

  

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