Subject: Re: NOT OT: GUNDLACH
Hi, despite the technical difficulties, it was worth the 45 minutes, so thanks for sharing. Jeff's main message is, try not to lose money in 2023. He thinks the fed raises 1/4 point, unless another bank goes bad, then no increase next week. He said the cost to hedge duration risk is prohibitively high, when rates were so low. Just a reminder, the vanguard federal mmf currently yields 4.6. I have check writing and wire privileges , and I use that cash to secure puts I'm short. As the song goes, who could ask for anything more? Have a great weekend all.