2 min readIf the mantra in real estate investing is location, location, location, then the rule of cash investing is diversification, diversification, diversification. The importance of this discipline can be seen in lessons found in the Auction Rate Securities market, certain banking sectors and in selected geographic credit exposures where either liquidity or credit issues can become…
2 min readRegular readers of our monthly newsletter may have noticed that we’ve paid particular attention to money market funds of late. It’s true. However, as you’ll see, this is another example of our firm’s philosophy to consciously and consistently seek to challenge conventional thinking about cash management. We understand that while some investors may still hold…
2 min readWelcome to the New Year edition of The Capital Advisor. Another year is now behind us (one that many are happy to put in the past) and a new decade lies before us. I’m particularly eager to see what the future may bring as those of us focused on the day-to-day management of corporate cash…
2 min readAs 2009 draws to a close, many of us in the corporate treasury world will likely feel this is an easy year to leave in our rear view mirror. With the lingering effects of the credit crisis and ensuing recession paralyzing many treasurers, flight to quality trades swamped the market and drove 30-day Treasury yields…
1 min readOver the past year, the money fund industry has been shaken by credit and liquidity issues that resulted in more than $50 billion in direct support from fund sponsors. This “behind the curtain” support has tested the resolve of many money fund families and affected the industry in a variety of ways. As a result,…
2 min readThe month of September was one that brought several important shifts to the economic and credit landscape and it’s no coincidence that it marked the one-year anniversary of a near global financial meltdown that was averted by unprecedented government support. Analyzing side-by-side Federal Open Market Committee statements from August 12th and September 23rd reveals language…
2 min readAs 2009 draws to a close, many of us in the corporate treasury world will likely feel this is an easy year to leave in our rear view mirror. With the lingering effects of the credit crisis and ensuing recession The summer of ’09 at Capital Advisors Group has been anything but quiet. Our firm…
2 min readContinuous improvement in the U.S. economy is now leading the government to explore the exit strategies that will eventually wean the economy from the multitude of support programs enacted during the worst of the credit crisis. In Federal Reserve Chairman Ben Bernanke’s recent Humphrey Hawkins testimony, the Chairman went to great lengths to assure the…
1 min readIt likely goes without saying that here at Capital Advisors Group we have been keeping a very close watch over the controversy that is heating up over the regulatory structure of money market funds. With the Obama Administration now stepping in to exercise its power to question and potentially modify SEC suggested changes to money…
2 min readOver the last year or so the pursuit of yield, for many corporate treasurers, has been rightfully trumped by the objectives of adequate liquidity and capital preservation. This shift in objectives served treasurers well during the deepest of the credit crisis in 2008 as we saw liquidity and capital threatened like no time in recent…