The AAII Milwaukee Chapter presents...

Fiscal Cliff, QE3, Bond Bubble: What’s Really Happening in the Fixed-Income Markets

    Discussed by:

    Jeffrey L. Bryden, CFA
    President, CIO, JB Investment Management, LLC

Even in the face of all the global problems, many investors entered the new year cautiously optimistic about stocks. But the hot topic in the markets is the direction for bond prices. There is growing concern among many leading strategists about the propect for bonds based on current record-low interest rates, despite their “flight to safety” appeal. With short-term interest rates near zero and the 10-year Treasury yielding under 2%, moving some funds into stocks with reasonably secure growth outlook and compelling yields has made sense to many investors. What does this mean for your portfolio? Are you taking the right level of risk? Invstors need to identify the rate of return they need to achieve their goals and construct a portfolio based on that return objective. Jeffrey Bryden will discuss the fear of a “bond bubble,” QE3 and QE4, and he will put the current enviornment into perspective.

Attend This Meeting and Learn...
About the economic backdrop for fixed income
Where we are in this business cycle
What you don’t know about bonds

Thursday, February 21, 2013
6:00 – 7:00 p.m.    Registration/Cash Bar/Refreshments/Social
7:00 p.m.    Program
Midway Hotel
1005 S. Moorland Rd.
Brookfield, WI
[ Map This Location ]
In Advance (by 2/19)
AAII Members and Family, $15/person; Non-members,
Students, $10/person
At the Door space permitting
Everyone, $20/person
No Refunds

  Special Interest Groups (SIGs)


Madison Subgroup
Contact: Jared Bessert, 608/298-9008,
Date/Time: Wednesday, March 20, 2013, 6:00 p.m. (check-in begins at 5:30 p.m.)
Topic: “Higher for Longer: How to Profit from Sustained High Energy Prices”
Speaker: Elliott Gue, Energy & Income Advisor
Politicians like to blame rising energy prices on speculation, and many pundits seem to regard $100/bbl oil as a temporary phenomenon driven solely by global geopolitics. But they’re wrong: rising demand from developing countries coupled with difficulties in increasing global oil output are the main drivers of rising energy prices, and both trends are here to stay. China still consumes a fraction of the oil developed economies use on a per capita basis, but rising disposable incomes there will continue to drive convergence. Meanwhile, most of the major new fields being discovered are tough-to-produce reserves such as those in the deepwater, Arctic and unconventional fields like the oil sands. In this session we’ll examine the true drivers of energy prices and a handful of companies best-placed to benefit from a prolonged period of high and rising energy prices.

LOCATION: Sequoya Branch of the Madison Public Library, 4340 Tokay Blvd., Madison, WI, 53711, 608/266-6385. The new Sequoya Branch of the Madison Public Library is located in the Midvale Shopping Center, about halfway between the Beltline and University Avenue. Enter the library from either Tokay Blvd. or from the center’s parking lot.
Cost: Free; guests welcome
Future meetings are May 15, September 18, October 16 and November 20.

Mutual Fund Subgroup
Contact: Brian Harden, 414/347-5546,; or Karen Hager 262/255-2849
Date/Time: Wednesday, March 20, 2013, 6:00 p.m. Ed Graat will discuss allocation and give a bond portfolio review. Fred Stamm will give a growth portolio review. We will then break up into small groups to discuss growth and bond picks.
2013 meetings scheduled for May 22, September 25 and November 20. No meeting is scheduled in July.

LOCATION: Brookfield Library, 1900 North Calhoun Rd., Brookfield, 262/782-4140. Take I-94 to the Moorland Road north exit. Go past the Brookfield Mall and turn west (left) on Blue Mound Rd. Go one mile to Calhoun Rd. and turn north (right). Go two miles north. Library is on the east (right) side, next to City Hall

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