It was a vicious March day on Bay Street and the cold wind cut through my trench coat as I hurried towards my clients. They were a nice young couple. Both working, planning for kids and dreaming of buying a home. Conscientious savers who were providing for their dreams with steady contributions to a mutual fund. Only one problem. There was a cruel wind blowing through the financial markets. It was the winter of 1994 and Alan Greenspan and his cronies at the Federal Reserve had tightened monetary policy leading to one of the sharpest and largest sell offs in bond market history. Thirty percent off the top in long-term bond funds and they were in a long-term bond fund. They were disconsolate at their financial misfortune. They did not know whether to bail out or sit tight.
They had a financial problem. That's where I came in, Sue Smart, Chartered Financial Investigator.
It was true
that the two Johnnies were good bond managers, they were also two of the most
eccentric. It was hard to separate them from their telephones at their trading
desks, so I decided to meet them at their health club, an exclusive bump and
grind joint called the Fatness Club.
The two
Johnnies were in the middle of their workout and had veins popping in their
determined efforts to out lift each other. They came over when they finished
their set.
Bond
managers, especially the two Johnnies, were not known for their sensitivity.
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