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Reaching For Safe But Illusory Yield

The recent downfall of a short-term funding company and an investment firm may seem to have little in common at first glance. But a closer look suggests that both are indicators that some investors are looking for yield in all the wrong places.
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Sentinel, Looking Back And Looking Forward

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A lot has changed since I published the first issue of this newsletter, but a surprising amount has not. Both are reflected in the first paragraph of that May 1993 edition, from an article titled “For The Best Gifts, Keep On Giving.”
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