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WJ Virtual Luncheon Replay & Recent Trades

Posted: Jared Jameson

We recently held our WJ Investor Luncheon, virtually of course. We discussed election results, recent investment performance, our expectations for future returns including the dismal forecast for bond investments, portfolio positioning, and potential tax policy for the coming years. If you were not able to attend, please click the following link to view the presentation:  https://wjwealth.com/category/presentations/

Last week we sold Loomis Sayles Bond Fund (LSBDX) from portfolios and used the proceeds to increase our allocation to Artisan High Income (APDFX) and add a new position in the Doubleline Income Fund (DBLIX). The trades were placed to accomplish the following:

  • Concentrate our corporate credit exposure in Artisan instead of spreading it across two funds.
  • Eliminate the long-term treasury position in Loomis.
  • Increase our exposure to lower grade securitized bonds like Collateralized Loan Obligations (CLOs) and Commercial Mortgage-Backed Securities (CMBS). These types of bonds were not supported by the Federal Reserve and potentially offer greater upside than corporate credit. In addition, the managers of the fund and Doubleline itself have considerable experience in identifying value in these sectors.

The net result of the trades is better exposure to a wide range of credit bond investments with some upside that will help offset dismally low treasury yields and protect against rising rates.

If you have questions about the recent trades or your portfolio, please contact us.

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