Jeff Benjamin

Investment Insights: The Blogblog

Jeff Benjamin breaks down the game for advisers and clients.

Third Avenue rattles the junk bond market

Plus: JPMorgan's David Kelly second-guesses the Fed, MLP investors hang on for dear life, and Joe Montana gets his VC groove on

Dec 14, 2015 @ 6:45 am

By Jeff Benjamin

  • Third Avenue Management's unprecedented move last week of blocking investor redemptions from its junk-bond fund has clearly rattled the bond markets, but it doesn't mean this is the end of days for fixed income investors. Try not to freak out just yet.
  • Of course, it might have been less jarring if Third Avenue's CEO didn't stress as recently as October that liquidity fears in the high-yield bond and loan market was a myth. Awkward.
  • Is JPMorgan's David Kelly smarter than the Fed when it comes to understanding the relationship between interest rates and the economy? David Kelly thinks so.
  • The wheels are coming off in the MLP space, an investment category that has been promoted as being able to weather energy-price fluctuations. The category has fallen 22% since the start of November. This is precisely why you're supposed to read the fine print when you're investing in something like an MLP.
  • NFL legend Joe Montana is stepping up into the pocket of a new venture capital gig. The former QB is no stranger to investing.


What do you think?

View comments

Recommended for you

Featured video


3 Questions to ask yourself when making your succession plan

Michael Futterman from Janus Henderson Investors has sage advice for advisers as they approach retirement.

Latest news & opinion

CFA Institute adding crypto, blockchain to curriculum

Subjects will be added to its Level I and II coursework for the first time next year.

Trump tax plan making dividend ETFs hot

Funds that are seeing inflows largely steer clear of sectors like utilities.

Wells Fargo Advisors continues to see a decline in brokers

Company also set aside $114 million over fees for rich clients.

Morningstar to replace funds in its managed portfolios with nine of its own

New sub-advised funds, offered exclusively through financial advisers, are intended to lower costs and provide 'greater flexibility.'

Average client assets top $2 million for first time

Charles Schwab's latest RIA Benchmarking Study reports organic growth is driving increased AUM and revenues.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print