Skip to content
Subscriber Only

Bond Guru Who Called Last Bear Market 40 Years Ago Says Go Long

  • Record-low money velocity shapes Lacy Hunt’s long-bond view
  • His Wasatch-Hoisington fund has beat 90% of peers over 3 years
Lacy Hunt.

Lacy Hunt.

Source: Lacy Hunt
Updated on

Lacy Hunt has lived through something the lion’s share of Wall Street hasn’t experienced.

As a young bond manager coming of age during the Great Inflation and Richard Nixon’s wage and price controls, Hunt saw the bear market in bonds coming in the late 1970s, and says he made a fortune for his clients. That turned out to be the last period of sustained selloff in the $13.9 trillion Treasury market, making the 74-year-old and other veterans of his generation a rare breed in finance today: people who actually traded during a period when bonds continuously lost value.