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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (58482)	11/19/2016 7:42:11 AM
From: staring	Read Replies (2) of 78715

I closed my position in PFXF in september with a nice profit (12% in a holding period of 7 months). I think 10-year bond yield will get close to 3%. But I don't see it getting much higher than that, at least in a sustainable way. With the current amount of debt in the economy, you get to a point that further inflation is automatically limited by increasing interest expenses, specially in the private sector. That being said, I have found fixed income market very interesting if you look for mean reversion. In the last year I had several positions and most of them worked well (annualized returns greater than 10%). The main exception was ELD, which I started in September and closed after Trump's election with a loss of 5%. In the case of PFXF, I would be glad to start a position again, once it gets to near 18.

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