Know The Now – Bull vs bear

History – recent and older – is replete with examples of painful outcomes when investors stretch for yield in fixed income. The Franklin Templeton freeze is the latest instance in a long series. Yet again, caveat emptor – buyer beware – remains the guiding principle on investment. Time and again, a well packaged proposition is presented to investors, but the reality of the investment process is eventually revealed to be shockingly mediocre.