Lead-Lag Live Income Strategies for Uncertain Markets with Jay Hatfield
Jul 27, 2025
Jay Hatfield, Portfolio Manager and Chief Investment Officer at Infrastructure Capital Advisors, shares his expertise on navigating uncertain markets. He dives into fixed-income investment strategies and the evolving role of preferred stocks and master limited partnerships (MLPs). The conversation highlights the significance of active management and diversification in a fluctuating environment. Hatfield also demystifies expense ratios and the impact of U.S. federal debt on market dynamics, offering valuable insights for savvy investors.
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Value of Fixed Income Now
- Fixed income is highly valuable now due to dovish Fed signals and rate cut expectations.
- Income-focused portfolios enable long-term investing with lower volatility compared to equities.
Fixed Income vs. Equity Income Volatility
- Equity income ETFs can produce high yield but usually increase portfolio volatility.
- Fixed income lowers portfolio volatility substantially while boosting income.
Housing Cost and Investment Impact
- Rising homeownership costs, nearly twice renting, signal negative economic pressure on housing.
- Investment, not consumer spending, drives recessions; current housing and construction investments are lagging.