Relevant and even prescient commentary on news, politics and the economy.

The Gift that Keeps on Giving

During the discussions about the Fannie Mae project I still regret having turned down, one of the topics was which security would be better for a portfolio (assuming their risk-adjusted prices provided the same value): a four-year-old MBS or a seven-year-old MBS? I noted that the four-year-old MBS provided more potential upside but came gradually […]