Accountable Update

Heard Any Good Bond Jokes Lately?

“Ha, interest rates are a joke! You would have to be crazy to buy bonds today, rates can only go up from here,” said my client (we’ll call him Mr. Cash) in 1993 when I called him with a AAA rated 6% tax free bond.  At the time, his money market was earning 3-4%, if I recall correctly.  As far as I know, he is still mostly invested in cash and short term CDs to this day, waiting for rates to go up.