CFA, CMT, CTA
Larry Berman is a Co-Founder of ETF Capital Management, (www.etfcm.com) and Prosper Experiential Media, (www.prosperexperiential.com). Over his 25 year career, Larry has worked for numerous top firms in New York, Boston, and Toronto. Prior to founding ETFCM (2006), he was Chief Technical Strategist and Managing Director for CIBC World Markets for nearly a decade where he was ranked as one of Canada’s “Top 3 Analysts” according to Brendan Wood institutional investor surveys. Larry is a Chartered Market Technician (CMT), a Chartered Financial Analyst (CFA) charter holder, and is a US registered Commodity Trading Advisor (CTA). Larry graduated from York University with a BA in Economics and lectures on behavioural finance and technical analysis at colleges and universities. Larry is the primary author of the textbook for the technical analysis course offered by the Canadian Securities Institute (CSI). He is past President of the Canadian Society of Technical Analysts (www.csta.org), past Vice-Chairman (Americas) of the International Federation of Technical Analysts (www.ifta.org), and past President of the Market Technicians Association – where he currently sits on the board of the educational foundation (www.mtaef.org). Larry’s opinions frequently appear in the media, and he is featured weekly on BNN’s Berman’s Call.
Fixing Fixed Income
The elusive quest for a real return
If you’re NOT a millennial, you might remember the good old days where you could earn 6-8% with very little risk, simply buying bonds. If you have more grey than Larry does, you’ll remember the bad old days of double digit inflation and 15% bond yields in the 1970s. The great financial crisis ushered in a new era of massive debt and ultra-low rates. Now as far as the eye can see, fixed income is “broken” because, in real terms, rates are somewhere between zero and negative. Should you just forget about this asset class entirely? Is higher risk investing the new normal? Will inflation come back? Will Modern Monetary Theory and popularist politics turn the financial world on its head? Will we all be forced to pay banks to keep our cash safe in the near future? Join Larry for an overview of how to understand fixed income, how it has historically played a role in portfolios, and how/why we’ve arrived at the current paradigm.
It’s not all bears and bond bubbles however. As usual, we’ll be showcasing portfolio techniques for thriving in the times we’re in, and what may be around the next corner. We’ll look at liquid alternatives, convertible bonds, options strategies and currency strategies as a source of yield, high yield without the high risk, and long/short tactics for navigating the forgotten world of fixed income. Larry will bring it all together for you in a portfolio context with ideas on how to use ETFs along with less correlated investment instruments (like gold) to put these ideas into action.