City Different Investments

In 2021, investors poured a record amount of cash into the municipal bond market, hoping to seek shelter from tax hikes expected as part of President Biden’s “Build Back Better” social spending and tax bill and the administration’s infrastructure bill. At this writing, politicians continue to wrangle with details of the proposed legislation,...

Don’t have time for one more New Year’s top-10 list? How about just a top 5? Right now, everyone is making 2022 stock and bond market forecasts. But some are falling into a trap called “recency bias”—the tendency to overemphasize recent events when we try to predict the future. Recency plays a huge role in shaping relative valuations and deciding...