IntermediateMAD Academy0:46Fixed Income

Three Ways to Arrange Maturities

A ladder, a barbell and a bullet hold the same asset class and produce completely different sensitivities to rates.

0:46 · 6 scenes

This lesson is part of a MAD Academy plan.

What the Lesson Covers

  1. 0:00How you space the maturities changes the portfolio more than the issuers do.
  2. 0:05The three shapes. Evenly spread, split at the extremes, or concentrated on one date.
  3. 0:15What a ladder gives you. Something maturing regularly, so you reinvest at whatever rates then exist.
  4. 0:24The barbell. Short bonds for flexibility, long bonds for yield, and nothing in the middle.
  5. 0:33The reason to choose. Match the structure to when you actually need the money, not to a yield target.
  6. 0:41Let the liability decide the shape.
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Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
Educational content only. MadStockAlerts provides market commentary, research, and educational content. It is not personalized investment advice, and nothing here is a recommendation to buy or sell any security. Trading and investing involve substantial risk, including loss of capital. See the Risk Disclosure and Customer Agreement.
Three Ways to Arrange Maturities — MAD Academy Training Video · MadStockAlerts