In this episode I welcome Rounak Langhe, MBA, CFA, founder of Durham Asset Management.
Rounak is an expert in fixed income investing. The aim of the this episode is to cover the fundamentals of bonds.
Discussion Points:
- Rounak's background (3:35)
- what is a bond? Understanding the the 3 C's & coupon rate, maturity, and payment dates (8:40)
- overview of bond types: government, corporate, junk/high-yield & bond rating agencies (13:04)
- lower risk for higher yields in the bond market today? (19:24)
- main determinants of bond yields, yield curves (21:00)
- basic bond math, impact on future bond prices (22:47)
- investing in bonds when rates have (hopefully!) peaked (26:38)
- why have bonds into your portfolio? (28:02)
- ways to invest in bonds - individual holdings vs ETFs vs mutual funds, fees (30:24)
- Canadian bond universe ETF composition (34:10)
- bond ETF fact sheets (36:29)
- is the 10 year US treasury yield a good marker for yields over the next 10 years? (38:18)
- closing thoughts (39:52)
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Mark Soth's article on bonds in a professional corporation: https://www.looniedoctor.ca/2023/10/13/bond-etf-corporation/?fbclid=IwAR2KfvzLFPCQ9BdV5dyOSG7j2E_gNtixfWkPZTjC6nIyS7gfLizXvpf-sco
Yatin's Links:
beyondmdpodcast@gmail.com