From the Yardarm
 

2018

  • The emergence of green bonds presents an attractive sustainable vehicle for fixed income investors, though not without drawbacks. The potential value of green bonds is obvious from the name; the securities prioritize the importance of environmental concerns as a means of either reducing risk or forming a competitive advantage when using the proceeds from the sale of the note.

     
  • Understanding bond investing terminology can help you select a bond fund or an asset allocation that is right for you. Saturna Capital explains credit risk, maturity, duration, interest rate sensitivity, weighted-average, convexity, and more.

     

2017

  • Few things in this world can be predicted with accuracy over multiyear periods and fewer still over multi-decade spans. One exception is population demographics. Based on data today, we have a good idea how populations will develop through 2050. For some countries, demographics will provide a tailwind toward possibly robust economic growth in the coming years...

     
  • As we observe events in realms such as financial markets, politics, or weather, we tend to form beliefs — be they explicit or implicit beliefs — about cause and effect, or whether the events were positive or negative, good or bad. Science has formalized this process: testing a hypothesis with empirical data. One of the tradeoffs when evaluating beliefs in light of evidence...

     

2016

  • Beneath the headlines and political rhetoric, we find a complicated, global story of how trade benefits both developed and emerging economies. There's certainly merit to questioning aspects of trade deals. Invariably, a document with 5,600 pages, like the TPP...

     
  • Among all scarce resources, time has no substitute. Time cannot be renewed, expanded, or replaced regardless of price. A person's lifespan limits their earnings, savings, and spending. Today, interest rates in developed world economies approach and even move below the so-called "zero bound," constraining the ability to grow...

     
  • With the forces of globalization pushing increased trade, and developing nations pursuing common paths of economic development, it appeared that the trends pressuring raw materials prices higher might continue indefinitely. But in the past four to five years, the longstanding trend in declining goods costs reasserted itself with a vengeance...

     
  • At the Amana Funds we have long described ourselves as "Value and Values-Based Investors." We have adopted this mantra because it reflects our investing philosophy, and we believe such an approach improves our likelihood of achieving...

     
  • In this political season, drug companies have become a convenient whipping boy. Congress called some firms on the carpet to defend their drug pricing practices, while some presidential candidates have suggested...

     
  • Real Estate has come of age and will be moving out on its own this summer, leaving its parent sector home of Financials to reside in its own self-titled headline sector. We foresee positive developments and a few risks...