Are Central Banks Whistling Past the Crypto Graveyard?
Many have embraced cryptocurrencies in an attempt to escape debasement of the world’s fiat currencies. Crypto champions, however, are missing the supreme irony: They themselves are printing money at a rate that dwarfs … Read More
The Federal Reserve (the “Fed”) continued to buy Agency mortgage-backed securities (MBS) throughout the first quarter, purchasing roughly $370 billion gross and $145 billion net. The Fed announced that after March 23 the Federal Reserve Bank of New York will … Read More
The Total Return Strategy concept, which I started nearly 30 years ago, began as a result of observing that it was possible to have the same or higher income with the same or lower risk than that of the Bloomberg … Read More
After reaching historic levels of cheapness by the end of 2019, value stocks underperformed growth stocks by a country mile in 2020, setting an all-time record for value’s cheapness relative to growth.1 Given the more-than-decades-long underperformance of value, proclamations of … Read More
DoubleLine has partnered with Professor Robert Shiller to create an equity offering. Can you describe the motivation for the strategy and how the DoubleLine Shiller Enhanced CAPE® Strategy enhances DoubleLine’s current suite of products?
First off, CAPE® stands for Cyclically Adjusted … Read More
The rise of special purpose acquisition companies (SPACs) over the last year has been a significant news story in capital markets. For years, SPACs have had a tarnished reputation
for having conflicts of interest and lackluster returns. On the surface, investing … Read More
While of recent invention, the catch phrase “Smart Beta” represents an extension or evolution of “quantitative investment” techniques of decades-old lineage. The revolutionary movement lies in Smart Beta’s democratization of these techniques and making them transparent to investors.
By way of … Read More
The DoubleLine Total Return Tactical Strategy seeks to maximize total return over a full market cycle by actively investing across global fixed income sectors. The strategy normally maintains a shorter duration and higher yield than its benchmark, the Bloomberg Barclays … Read More
Traders betting on a further sustained rise in interest rates might want to listen more closely to what the US Federal Reserve is saying. There have been a lot of comparisons made in markets between recent volatility and the so-called … Read More
Around this time a year ago, I ruffled a few feathers among bond traders with the headline “This is the Scariest Gauge for the Bond Market.” The upshot was that when looking at the ratio of yields on corporate debt … Read More