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The Christmas Edition: A Christmas Look-Back

December 23, 2014
Rich Berg & Phil Nussbaum

As many of you know, Rich and I send out a Christmas letter every year that is not from Performance Trust Companies, but rather from the two of us personally. We use this special time of the year to communicate with you in a very personal way, as we give you our perspective on what Christmas means to us.

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Chapter 9 Resolutions from Detroit and Stockton—Lessons to Learn

December 12, 2014
John Behof 

Now that the two major outstanding municipal Chapter 9 cases—Detroit and Stockton—have been largely resolved, it is time to assess what we can learn from these realities. How do the outcomes change our belief from the prior legal theory? How might we improve our investment selection criteria for municipal bonds going forward, based on our observations of the actual practicalities these two cases, at least, have demonstrated?

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