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Numbers Before Noise

Joe Walker

Finance professional with 15+ years in middle-market transactions, writing about markets, retirement, and long-term capital decisions.

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Substack
PricingOnly free issuesPublishesDaily
Issues38Founded6 months agoLast Issue3 days ago
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Latest Issues

Your $300,000 Bond Fund Hides a $15,750 Loss Behind One NAV Number

$15,750.

That’s the price loss sitting inside a $300,000 bond fund with 7-year duration, and I’d bet dollars to doughnuts your November statement didn’t print that figure anywhere. It printed a lower NAV. It let you feel vaguely uneasy ins...

3 days ago

The BOJ Can Erase $6,300 From Your "Safe" Bond Fund With One Rate Move

$7,800.

That’s roughly what a bond fund with 7-year duration added to a $300,000 position last month, and I’d bet a fair number of you looked at your October statement and felt something close to relief. The thing that was supposed to prot...

7 days ago
1

The 50-Basis-Point Move That Already Cost Your Long-Duration Fund $27,000

$27,000.

Everyone wants to talk about the gas pump, and that’s the wrong place to be looking.

What everyone is saying

Brent crude printed around $115.88 on October 28, and the Financial Times ran it up top like a siren. Every headline...

10 days ago

Donna's $5,320 Bond Gain Came From the Same Shock Draining Her Stocks

$5,320.

That’s what a reader named Donna, a retired high-school chemistry teacher in Dayton, emailed me about this morning. Her intermediate bond fund holds roughly $400,000, it runs about 7 years of duration, and on October 22 it jumped a...

14 days ago

Your 7-Year Bond Fund Lost $23,500 Since October — Your Statement Won't Say That

$23,500. That’s the number I think is sitting inside a $300,000 bond fund right now, and no statement you own will ever print it in plain dollars. So let me do the arithmetic your fund company won’t.

1.5%, and a Padded Room

In 2021, th...

17 days ago

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  • Joe Walker

    Finance writer focused on markets, retirement decisions, and what the numbers actually change.

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