In Plus episode 544, we analyze the Reckoner suite of AAA ETFs that includes a version that eliminates ordinary income tax. We also revisit mortgage REIT preferreds and find a more attractive AGNC REIT preferred than the one David owns. Finally, we review new options for earning yield by holding Ether and Solana ETFs. Become a Member If you would like to listen to this episode of Money For the Rest of Us Plus, you can do so by becoming a Money For the Rest of Us Plus … [Read more...]
546 Plus: CLO Equity and Bank Loan Update, Investing in Retirement, Roth IRA Asset Location
In Plus episode 546, David discusses why CLO equity closed-end funds are selling off in 2025. We also provide an update on SEIX. We answer a member's question about investing more conservatively as they approach retirement. Finally, we look at what assets are appropriate for Roth IRAs. Become a Member If you would like to listen to this episode of Money For the Rest of Us Plus, you can do so by becoming a Money For the Rest of Us Plus member. Learn More About Membership Options … [Read more...]
539 Plus: Member Survey Follow Up, David’s Research Process, CLO Update, and Why Morningstar Downgraded DEM
This week on Plus episode 539, we share some feedback on the Plus member survey, and David reviews his process for creating investment-related content. We also review an insight piece by DoubleLine on collateralized loan obligations. Finally, we discuss why Morningstar downgraded its view on the WisdomTree Emerging Market High Dividend Fund (DEM), one of the adaptive model portfolio holdings. Become a Member If you would like to listen to this episode of Money For the Rest of Us Plus, … [Read more...]
497 Plus: Portfolio Trade, Bond and CLO Defaults, and Non-U.S. Stock Valuations
This week on Plus episode 497, we review David's trade to sell ASGI. We review historical default rates for bonds and CLOs. We also explore why non-U.S. stock valuations are lower today than 20 years ago. Become a Member If you would like to listen to this episode of Money For the Rest of Us Plus, you can do so by becoming a Money For the Rest of Us Plus member. Learn More About Membership Options » 497 Plus Show Notes Portfolio Trade: Exiting Global Infrastructure Closed … [Read more...]
487 Plus: Bank Loans, CLOs, and Pershing Square’s New Closed-end Fund
In Plus episode 487, we answer some members' questions on bank loans and collateralized loan obligations. We also analyze Pershing Square USA (PSUS), Bill Ackman's anticipated closed-end fund initial public offering. Become a Member If you would like to listen to this episode of Money For the Rest of Us Plus, you can do so by becoming a Money For the Rest of Us Plus member. Learn More About Membership Options » 487 Plus Show Notes PSUS presentation PSUS … [Read more...]
483 Plus: Private Credit, BDCs, CLOs, Cash Balances and Is This Portfolio Too Aggressive
In Plus episode 483, we analyze the Virtus Private Credit ETF (VPC), which invests in business development companies (BDCs), leveraged loans, and collateralized loan obligations (CLOs). We review the characteristics of all those asset categories. We also discuss the appropriate cash balance for retirees and consider whether a retired member's portfolio has too much in stocks. Become a Member If you would like to listen to this episode of Money For the Rest of Us Plus, you can do so by … [Read more...]
Portfolio Trade: Adding CLO ETF
Become a Member If you would like to read about this portfolio trade, consider becoming a member of Money For the Rest of Us Plus. Learn More About Membership » Yesterday, David purchased the BlackRock AAA CLO ETF (CLOA) by allocating some of his existing cash. CLOA invests in the highest-rated tranches of collateralized loan obligations, also known as CLOs. Collateralized loan obligations are structured securities that invest in syndicated bank loans, known as leveraged … [Read more...]
423: A “Safe” 6% Yield: The Case for Investment Grade CLOs
How leveraged loans and CLOs work and how to invest in them. What are the risks and opportunities with the new CLO ETFs. Topics covered include: Show Notes Companies, Lenders Clash Over Loan Spreads in Switch from Libor by Mark Maurer—The Wall Street Journal Libor: The Spider Network—The Wall Street Journal Collateralized Loan Obligations (CLOs) Primer by Jennifer Johnson—NAIC and The Center for Insurance Policy Research Investing In The Middle: Tapping Into … [Read more...]
305: Are Banks Safe?
Is a bank collapse coming due to bank exposure to collateralized loan obligations as defaults increase? Topics covered include Show Notes The Looming Bank Collapse by Frank Partnoy—The Atlantic Understanding Collateralized Loan Obligations (CLOs)—Guggenheim Vulnerabilities associated with leveraged loans and collateralised loan obligations—Financial Stability Board Who Owns U.S. CLO Securities? An Update by Tranche by Laurie DeMarco, Emily Liu, Tim … [Read more...]
223 Plus: ETFs vs Index Funds, Vanguard vs Others and Collateralized Fund Obligations
This week September 29, 2018, we compare investing in ETFs to index mutual funds. We also look at whether Vanguard is a better choice than other brokerage options. Finally, we explore a collateralized fund obligation that is backed by private equity cashflows. … [Read more...]
