Thornburg Articles
- A Tradition of Disciplined Bond Management - Overview of Thornburg Bond Funds and the role of bonds in a portfolio, types of bonds, the risks of investing in bonds and where Thornburg Bond Funds fit into your asset allocation strategy.
- Fixed Income Investment: What's the Index Doing for You? Portfolio Manager Jason Brady discusses the composition and returns of the Barclays Capital Aggregate Bond Index vs. Thornburg Limited Term Income Fund and Thornburg Limited Term US Government Fund
- The Road of Retirement educational modules outline the best practices for developing and following a retirement income plan that balances current lifestyle and long-term sustainability of the retirement portfolio. The series includes seven client-approved articles.
- View from the Bond Desk - This quarter featuring "Bond Investing as a Negative Art" and "Reinvestment Risk is Real and May Be Just Around the Corner". Additionally, it includes a Thornburg Strategic Income Fund Update and a Thornburg Strategic Municipal Income Fund Update. September 2009 (pdf)
- Investors Buy & Sell Bond Funds at the Wrong Time September 2009 (pdf)
- A Study of Real Real Returns The results of Thornburg's 2009 study are consistent with historical results. Two asset classes – common stocks and municipal bonds – have consistently provided the highest real real returns after inflation, taxes, and expenses. June 2009 (pdf)
- Cultivating the Growth of the Dividend - includes discussion of the benefits of dividend paying stocks; dividends, valuation and corporate governance; dividend-paying equities as an all-weather strategy; and putting dividends to work for you. May 2009 (pdf)
- Has the Municipal Bond Market Mispriced the Impacts of the Current Recession? We Think it Has! - by portfolio manager Chris Ryon, CFA - There are several methods
an investor can use to assess
the market’s pricing of credit
risk. This is important
because sometimes the market,
with its collective reasoning,
will charge too little for
credit risk and, at other times,
too much. The market’s predisposition
toward mispricing
credit risk is highly correlated
to its sense of euphoria or fear.
- A New Reality - by portfolio manager George Strickland, May 2009 The consequences of faulty or incomplete analysis are more severe today. The market is adapting to the new reality, but while it does, fear and opportunity are at exaggerated levels.
- Alternative Minimum Tax (AMT) Josh Gonze, Co- Portfolio Manager - updated May 2009
Overview of AMT, who is affected and implications for Muni bond fund investors.
- A Modern Rationale for International Equity Investing - updated May 2009
- The Case for a High and Growing Dividend Stock Strategy in Retirement Portfolios - by Jack Gardner, CIMA®, AIFA® reprinted with permission from Investments & Wealth Monitor December 2008
- World-wide Investing - Thornburg study on international investing. (pdf)
- Laddering A Bond Portfolio, Co-Portfolio Managers George Strickland, Josh Gonze, Chris Ihlefeld, and Chris Ryon
- Individual Bonds vs Bond Funds by Ken Ziesenheim, President Thornburg Securities Corp.
- Risk: More Than One Definition, Alex Motola, Portfolio Manager, June 2005 (pdf)
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