Seeking Shelter in Munis

Published on
January 14th, 2019
Duration
32 minutes

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9

Seeking Shelter in Munis

The Expert View ·
Featuring Frazer Rice

Published on: January 14th, 2019 • Duration: 32 minutes

In a time of elevated volatility in equity markets, where can investors turn for principal protection and incremental income? Frazer Rice of Wealth Actually argues in favor of municipal bonds, discussing areas of potential opportunity and risk, as well as highlighting the unique attributes of the asset class. Filmed on January 2, 2019 in New York.

Comments

Chapters

  1. 00:01:22
    What’s the Overall Case for Municipal Bonds Ownership?
  2. 00:02:56
    How Have Municipal Bonds Performed?
  3. 00:03:56
    What Unique Attributes Do Municipal Bonds Possess?
  4. 00:05:22
    How Do You Analyze the Risks in Muniland?
  5. 00:07:27
    In Which Geographies Do You See Risks & Opportunities?
  6. 00:09:19
    How are Revenue Bonds Different from General Obligation Bonds?
  7. 00:10:03
    In What Ways has the Muni Space Changed?
  8. 00:14:25
    How Do You Think about Duration & Interest Rate Risk?
  9. 00:17:17
    How Do You Advise Clients to Start Evaluating Credit Risk?
  10. 00:19:22
    What’s Your Approach to Finding ‘Red Flags’ in Munis?
  11. 00:22:22
    In What Ways is ESG Changing the Muni Landscape?
  12. 00:27:00
    What Municipal Investments Would You Avoid?

Mark Yusko

Morgan Creek Capital Management, Co- Founder, CEO, & CIO

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Morgan Creek Capital Management was founded in 2004 and currently manages close to $2 billion in discretionary and non-discretionary assets. Prior to founding Morgan Creek, Mr. Yusko was CIO and Founder of UNC Management Company (UNCMC), the Endowment investment office for the University of North Carolina at Chapel Hill. Before that, he was Senior Investment Director for the University of Notre Dame Investment Office. Mr. Yusko has been at the forefront of institutional investing throughout his career. An early investor in alternative asset classes at Notre Dame, he brought the Endowment Model of investing to UNC, which contributed to significant performance gains for the Endowment. The Endowment Model is the cornerstone philosophy of Morgan Creek, as is the mandate to Invest in Innovation.

Mr. Yusko is again at the forefront of investing through Morgan Creek Digital Assets, which was formed in 2018. Morgan Creek Digital is an early stage investor in blockchain technology, digital currency and digital assets through the firm’s Venture Capital and Digital Asset Index Fund.

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Anthony Scaramucci

SkyBridge Capital, Founder & Co-Managing Partner

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MicroStrategy, Co-Founder

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He retired from managing client money at the age of 36 in 2004 and now lives in the tiny Caribbean island of Little Cayman in the Cayman Islands. Previously he co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul moved to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe. In this role, Raoul established strong relationships with many of the world’s pre-eminent hedge funds, learning from their styles and experiences.

Other stop-off points on the way were NatWest Markets and HSBC, although he began his career by training traders in technical analysis.

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FFTT caters to institutions and sophisticated individuals by aggregating a wide variety of macroeconomic, thematic and sector trends in an unconventional manner to identify investable developing economic bottlenecks for his clients. Prior to founding FFTT, Luke was a founding partner of Cleveland Research Company, where he worked from 2006-14. At CRC, Luke worked in sales and edited CRC’s flagship weekly thematic research summary piece (“Straight from the Source”) for the firm’s clients. Prior to that, Luke was a partner at Midwest Research, where he worked in equity research and sales from 1996-2006. While in sales, Luke was a founding editor of Midwest’s widely-read weekly thematic summary (“Heard in the Midwest”) for the firm’s clients, in which he aggregated and combined proprietary research from Midwest with inputs from other sources.

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