Podcast

Matt Freund, co-chief investment officer/head of fixed-income strategies at Calamos Investments, says he expects interest rates to settle in and remain stable for quite a while before trending down; he expects more volatility in longer-term bonds, which will make it harder for investors...

Jim Baker, managing partner and co-head of energy infrastructure at Kayne Anderson Capital Advisors, says that the energy transition -- the push away from traditional fossil fuels towards renewable sources -- will take decades, creating a long-term megatrend in the energy business.

Christian Munafo, chief investment officer, of Liberty Street Advisors, which runs the Private Shares Fund, says there are two stories dominating the private equity markets, with high-performing well-financed private innovation companies being proverbial unicorns...

Host Chuck Jaffe attended this week's Morningstar Investment Conference in Chicago and took the podcast with him, catching up with 'Super Mario' -- investment legend Mario Gabelli, founder of the Gabelli Funds, a long-tenured fan of closed-end funds...

Roxanna Islam, associate director of research at VettaFi, says that exchange-traded funds that invest in closed-end funds give investors diversified portfolios -- and all the benefits of investing deeply in the closed-end space -- in a one-stop shopping wrapper.

Jonathan Mondillo, head of North American fixed income for abrdn says that 2023 has been a year of wild moves in the municipal bond market, performing well in January before selling off in one of the worst months of February ever, setting up a March rebound until the banking crisis hit.

John Cole Scott, president of Closed-End Fund Advisors, discusses how and why investors might pursue private equity and debt using closed-end funds, noting that expansion of the industry and changes in structure adding share classes have made private, alternative investments much more accessible for investors.

Cheryl Pate, senior portfolio manager at Angel Oak Capital -- co-manager of the Angel Oak Financial Strategies Income Term Trust -- says that current problems in the banking sector are setting up a recovery, noting that 'opportunities like this are fairly rare...

Steve O’Neill, portfolio manager at RiverNorth, says the average municipal-bond closed-end fund has a discount of 10.5 percent, which over the last 25 years would be in 'the 99th percentile of cheapness'.

Bryce Doty, senior portfolio manager at Sit Investment Associates says that the problem at the heart of the current banking crisis is not a default problem, but rather is a logical outcome from how quickly the Federal Reserve raised interest rates.