Word: funds
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...They lost money on their house, they lost money on stocks," says Tom Atteberry, co-manager of the FPA New Income mutual fund. "They put money in bonds because they think it's safe. Then interest rates are going to rise on them, and they're going to lose money on bonds...
...first time I heard Atteberry say this, I thought my ears needed cleaning. You see, FPA New Income is a bond fund - a very successful one. The mutual-fund raters at Morningstar named Atteberry and his co-manager and boss, Robert Rodriguez, 2008's fixed-income managers of the year. Yet Atteberry sees only trouble ahead. "I've got a bull market in bonds that's unsustainable," he contends. "It might last another six months. It might last another year. Is it going to last another three to five years? I don't think...
Atteberry is hoping to navigate the minefield ahead by holding only bonds that come due soon, which are less sensitive to changes in interest rates (but also have a lower yield than longer-dated bonds). He may ask FPA New Income's board for permission to increase the fund's limit on foreign bond holdings from its current 10%. And he has positive things to say about the inflation-indexed bonds that Treasury has issued since 1997, although he doesn't think they're a particularly good deal...
...University really took it on the chin this past year so the question became, ‘how are we going to fund this?’ Because you don’t just find 25,000 dollars lying around,” Fash said...
...after its leader, Abdurajak Abubakar Janjalani, was killed in a gun battle with police in 1998, the militant group changed course, stopping its bomb attacks and kidnapping potentially rich foreigners for ransom money to fund operations and gain support from local communities. In 2000 the group kidnapped 21 people - 19 of whom were foreigners - in Malaysia, 50 students and teachers from two schools on the island of Basilan, and at least 15 foreign journalists, including one reporter who was kidnapped and released twice...