Talk Your Book: The Companies Are Fine

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 11 December 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's Talk Your Book, Ben Carlson and Michael Batnick are joined by Alex Morris, CIO and President of F/m Investments to discuss: F/m Investments Opportunistic Income ETF, interest rate risk vs. credit risk, market cap weighting bonds, knowing when to sell a bond, and much more! Learn more about F/m Investments ETFs at: https://fmetfs.com/xfix/ Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at [email protected] with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's Animal Spirits Talk Your Book is brought to you with
0:02.5	FM Investments. Go to FM ETS.com to learn more about the
0:06.0	F.m. opportunistic income E.F. which we're going to talking about today.
0:09.0	That's F.M. ETS.com.
0:11.0	Welcome to Animal Spirits. E.com about what they are reading, writing, and watching.
0:22.8	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect
0:26.8	the opinion of Redhol's wealth management.
0:29.2	This podcast is for informational purposes only and should not be relied upon for any investment decisions.
0:34.8	Clients of Britholz wealth management may maintain positions in the securities discussed in this
0:38.8	podcast.
0:39.8	Welcome to Animal Spirits with Michael and Ben. On today's show we had returning guest
0:48.1	Alex Morris from FM Investments to talk about the credit space. We talked to them in the past
0:51.6	about Treasury's and the big takeaway
0:54.0	for me, but you actually made a pretty good point that yes interest rates have risen, but most companies
1:00.3	are still paying debt on much lower yields in the past, which is one of the reasons
1:06.2	that the bond market hasn't completely blown up from all of this, which is interesting.
1:09.5	You know, I think I might have said this, I was almost embarrassed to have this, that this dawned on me.
1:15.0	It just seems so obvious but the price of these bonds have gone down to keep up with
1:21.0	new interest rates. So Microsoft, for example, their bonds are more attractive than they were when they issued them.
1:27.0	Is Microsoft any worse off than it was when they issued these bonds?
1:30.0	Of course not.
1:31.0	Right.
	...

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