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Forbes Interview of James Brilliant, CFA

Posted by CM Advisors on Aug 29, 2017 5:09:29 PM

Forbes interview of Jim Brilliant, CFA.  

Jim Brilliant, CFA, CIO, and portfolio manager for the CM Advisors Fixed Income Fund (CMFIX), was interviewed by Forbes’ own Wallace Forbes on August 10, 2017. The title of the interview wasLoading Up On Bonds Of Companies That Have Gotten Priced As If They're Never Going To Survive

       The following are several quotes from Jim during the interview:

 

  • “We’re not only looking at the income component, but we’re also looking at the appreciation of the bond itself.”

 

  • “As a total return bond fund, we have the flexibility to invest in treasuries and corporates and we can invest in any maturity or any credit quality. By having this flexibility, it allows us to move up and down the yield curve and then be opportunistic when credit spreads widen.”

 

  • “…we dig into the fundamentals of the company to determine whether what’s weighing on the bond is a temporary issue or whether it’s something much more dramatic. And when we can assess that it’s a temporary issue, and that over time the fundamentals may improve, which may improve cash flows, those improved cash flows eventually may lead to a narrowing of credit spreads and an upgrade of the bonds in many cases.”

 

  • “Even in some of these markets where the investors don’t have a whole lot of confidence, there are opportunities to find mispriced assets.”

 

  • “There is a perception that on-shore shale production will be able to satisfy the needs of our oil demand into the future. But if you really dig into the oil market it’s clear that shale — as wonderful as it is, cannot satisfy the overall demands of oil going forward.”

 

  • “The offshore drillers have gotten priced as if they’re never going to survive. But we feel that’s overly pessimistic and, therefore, we’ve bought many of those bonds.”

 

You can read the entire interview on www.forbes.com.

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CNN Money: "Big Oil could be ready for a big comeback"

Posted by CM Advisors on Apr 2, 2017 8:36:00 AM

Jim Brilliant discusses the potential for rising oil prices with CNN Money.  Click here to read the article.

 

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Barron's: "Top Fund Manager Sees Value in Offshore Drillers

Posted by CM Advisors on Mar 8, 2017 3:50:00 PM

 

Read the Barron's article about opportunities in offshore drillers here.

 

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MarketWatch: "If you think bonds are too dangerous now, think again"

Posted by CM Advisors on Feb 7, 2017 5:04:00 PM

On February 7, 2017 MarketWatch interviewed Jim Brilliant for his thoughts on bonds.  Here's an excerpt:

You’ve probably read recent headlines telling you to stay away from bonds because interest rates are rising. But such conventional wisdom might not make sense if you are looking for income and have the patience to stick with a long-term strategy...

Click here for full article

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Topics: News, Articles, Our Views

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Fixed Income, Value Approach

As a total total return bond fund, we have the flexiblity to invest in treasuries and corporate bonds of any maturity or credit quality. Given the current economic climate, we are focused on a mix of short-term U.S. Treasuries and corporate bonds. 

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