Institutional Investing articles

Portfolio Management

Portfolio Management

Impact of interest-rate caps on floaters By Jim Reber Everyone likes a thrill ride. Roller coasters that climb into the sky, making scary-sounding squeaks and rattles, reaching an apex with land and sea far below, then rushing brake-less toward the cold, hard ground is great fun for most of us. Investments with similarly carnival-riding yields […]

Ebb and Ebb

Drop in bond prices has not been uniform By Jim Reber This month’s column happily begins with not one, but two trite admonitions: “Be careful what you wish for—you just might get it.” And “those who do not learn from history are doomed to repeat it.”

Defense! Defense!

Portfolio investing with an eye on future interest rates By Jim Reber At the recently concluded National Basketball Association playoffs, home crowds could be heard chanting the familiar “Dee-fense! Dee-fense!” exhorting their heroes to throttle the opponent’s offense. Community bank portfolio managers can also employ this strategy, without inhibiting their ability to score. The technique […]

Since You Asked …

A compendium of recent portfolio-investment questions from community bankers By Jim Reber It pleases me greatly that so many of you have participated in our multifaceted education efforts. ICBA has built a solid reputation for delivering training that responds to community bankers’ needs, and the ICBA education department has seen fit to ask us to […]

Bottoms Up

Manage your community bank’s deposits for better margins By Jim Reber In the last year, this column has covered several investment topics in as much detail as they deserved, and possibly more so. We’ve talked about mortgage-backed security prepayments, callable agencies, municipals, SBA’s, interest rate risk and premium risk. Generally, I’ve recycled themes based on […]

Wind the Clock

The Federal Reserve resets its criteria for altering monetary policy By Jim Reber The last two years may go down amongst Fed watchers as the period in which the calendar was introduced into policy making. As 2013 gets going, it still appears that the Federal Open Market Committee is finessing the words of its interest […]

Bang for the Buck

Risk/reward dynamics of portfolio investing have changed recently By Jim Reber “An ounce of prevention is worth a pound of cure.” “If it ain’t broke, don’t fix it.” “A basis point of yield is worth a basis point of risk.” At the risk of being trite, I would like to point out that the aforementioned […]