News Article | September 25, 2013 |
USA Today (September 25, 2013): David Wright, managing director of Sierra Investment Management, says bonds still have the right stuff.
Despite all the talk of the bond bull market being dead as the Federal Reserve moves ever closer to cutting back on its stimulus program, Wright says he’s buying up municipal bonds and high-grade corporates “with both hands.”
In the past week, he’s raised his portfolio’s exposure to muni bonds from to 25% from zero, saying they can appreciate 3% to 4% the next 60 days. High-grade corporate bonds now make up 15% to 20% of his holdings.