Now I know I am getting older. There is quite a lot to be said for having an advisor who at least knows what rising interest rates feel like.
“There are more junior varsity Fed watchers commenting on this potential policy change than ever before,” Jeremy Hill, managing partner for Old Blackheath Companies, wrote in a recent research note.
“The general lack of experience of many investment professionals also applies to the lack of experiencing a bear market in bonds—and inexperience of a bear market in stocks,” said Douglas Kass, president of Seabreeze Partners Management. “We have been in a bull market for bonds for over three decades and a bull market in stocks since 2009.” Kass, who graduated from Wharton in 1972, said the “lack of experience will likely be manifested in a lot more volatility across numerous assets classes,” including stocks, bonds and more.