Sad news about Zell’s passing. Another source of wisdom denied.
I laughed at the obituary - my father only recently hoped that he’d survive long enough to know that Trump doesn’t regain office (he’s an old school republican). I think he’ll survive alright, but I’m not sure Trump won’t be back. Also not sure Biden is the better choice. Are we living in Jean Paul Sartre’s No Exit?
What the Fed is doing in the TIPS market is ridiculous but what’s sad is that the five year tips are still the best idea I can come up with for the long end of my bond ladder. I’m fortunate to have only ~10% of my portfolio in fixed income.
At the time I bought them, the implied expected inflation rate was 2.3% which seemed to low (that is the regular five year yield minus the TIPS “real” yield).
TIPS yield is higher than the 0.9%+CPI-U currently offered on I bonds. I also own I bonds. They are simpler from tax perspective.
Sad news about Zell’s passing. Another source of wisdom denied.
I laughed at the obituary - my father only recently hoped that he’d survive long enough to know that Trump doesn’t regain office (he’s an old school republican). I think he’ll survive alright, but I’m not sure Trump won’t be back. Also not sure Biden is the better choice. Are we living in Jean Paul Sartre’s No Exit?
Thank you for the Sam stories. I miss him already.
Janet Yellen was unavailable for the Peach vid.
Loved the Sam Zell recap. His book “Am I Being Too Subtle?” is a classic. Too many PC, whitewashed corporate types and too few like Sam. RIP
What the Fed is doing in the TIPS market is ridiculous but what’s sad is that the five year tips are still the best idea I can come up with for the long end of my bond ladder. I’m fortunate to have only ~10% of my portfolio in fixed income.
What's the yield on 5-year tips? Never bought 'em. Other than old I-bonds, I'm just in T-Bills. Nice to get 5% instead of 0.01%.
The five year TIPS I bought in April was 1.3%+CPI-U.
Yield has come up a bit since then:
https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_real_yield_curve&field_tdr_date_value_month=202305
At the time I bought them, the implied expected inflation rate was 2.3% which seemed to low (that is the regular five year yield minus the TIPS “real” yield).
TIPS yield is higher than the 0.9%+CPI-U currently offered on I bonds. I also own I bonds. They are simpler from tax perspective.
Godspeed. I think I'll continue to not own bonds :)
I would do better in Berkshire under reasonably decent conditions, no doubt about it.
Sam Zell, rest in peace. Eternal Father please accept the soul of this good man into your keeping. Amen.