You want to understand why a bond manager makes certain strategic decisions,

A good bond fund, like a high yield fund, has less credit risk and less interest rate risks -- and a good manager will add value,

In the rush to quality, municipals have been completely overlooked.

If you believe the bond market has already seen the worst hike in yields, then that's a great time to get in,

If you're in the market for guidance, this is probably not a bad way to go. A lot of people will try to shame you into thinking you shouldn't be paying for help. But there's nothing shameful in doing it.

That's an especially high number for a sleepy market,

This is like Christmas in the middle of September. We're 2-0 and we're healthy heading into a bye week.

Things could level off, or it could continue to a death spiral, ... I think nobody knows how it will end up.

The bond market has been zigzagging this year. Every time the Fed acts, and the feeling in the market is that the economy is going to bounce back strongly, it causes pain for bonds because it threatens inflation,

It's easy to say, 'Throw it all in stocks,' ... A lot of people say that, but they've never been through a bad bear market.