Paul Ryan

"However, I will always remember how easy it was to distribute bonds between 2% and 4%, and how difficult it was between 6% and 8%." This is a terrific read on the unpredictable nature of interest rates over the last 40 years... also this could be a case study of the power of #InvestorSentiment and the futility of forecasting! #MuniBonds #FixedIncome #InterestRates #GetRealStayRich #WatkinsonMuniBonds #TbillnChill

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The last week of August is typically a slow one from a news perspective in the stock market. No difference this past week ex Nvidia earnings, but the story about the Prospect Capital Management earnings conference call caught my eye. In a nutshell, the CEO of Prospect essentially berated a sellside analyst from Wells Fargo for asking certain questions on an earnings conference call conducted on August 29. Now, I don't know Prospect (never heard of the firm/stock until this story broke), don't know the Prospect CEO, don't know the analyst at Wells Fargo, don't know the potential history between the parties, really don't know anything about the situation. So, I read the earnings call transcript. In my opinion, it really reflects poorly on the Prospect CEO. What seemed to be fairly reasonable questions (maybe they weren't and I completely missed something here) were met with extreme vitriol, some non-answers and a high level of seemingly personal disdain for the sellside analyst. As someone who knows nothing about the company, it naturally makes me skeptical of Prospect and wonder why the CEO reacted this way. As a company executive, you know the best way to make an analyst look bad (Wells Fargo analyst has Underweight rating on the stock)? It is to execute well, put up strong fundamentals and let the results speak for themselves. Not attack an analyst. Especially when your stock's all time high was in 2007 ($17+) and it currently sits at just above $5. #doyourwork #askhardquestions #dontbeabagholder https://lnkd.in/gtueaZUn

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The U.S. #equity market stands at a crossroads, with AI-driven giants having soared to unprecedented heights even as incoming macro data point to a more challenging economic backdrop down the road. This stark contrast sets the stage for a complex period ahead where innovation’s promises alone may struggle to power the overall stock market to repeated new highs. Read more in TCW's Mid-Year Equities Outlook:

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