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Rick Konrad

Personal Finance, Retirement, Investing
“With over 40 years of experience and as a founding partner of Blueprint Financial Planning, LLC, Rick Konrad is committed to providing investment and retirement planning advice to his clients.”

The Roosevelt Investment Group, Inc.

Job Title:

Managing Partner


Rick Konrad co-founded Blueprint Financial in 2001 and also founded Value Architects Asset Management. Prior to this, he was the Managing Director of Research for Ryan Beck & Co. He has extensive experience in investment management, having been a partner in Lincluden Management, a Canadian private asset manager with over $7 billion under management, as well as Sceptre Investment Counsel in Toronto where he was responsible for a $2 billion US mandate.

He is a graduate of University of Western Ontario in Canada, and received his MSF from Northeastern University. He received his CFA charter in 1988, his CFP® designation in 2004, and has completed the Harvard Business School Executive Program on behavioral investing.

Rick has been a member of the University of Western Ontario’s investment committee since 2008 as well as a member of its Board of Governors. He also has served on the Shareholder Advisory Council to Sallie Mae, the nation’s leading provider of student loans where he was involved in initiating changes in financial reporting and securitization as well as a change in senior management of the company. In his free time,  Rick is an adjunct instructor of retirement planning at NYU.


MS, Finance, Northeastern University
BA, Biophysics, University of Western Ontario

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January 2017
    Investing, Stocks

All Answers
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    Bonds / Fixed Income
Is it possible to short sell a bond?
67% of people found this answer helpful

It certainly is possible to sell a bond short, just like the process by which you sell a stock short. You are selling a bond that you do not own, so it must be borrowed. This requires a margin account and of course, some capital as collateral against the sales proceeds. There are interest charges for borrowing the security.

One other important provision. Just as an investor who is short a stock must pay the lender any dividends that are declared, a short seller of a bond must pay the lender the coupons or interest that is owed on this bond.

You may wish to consider using an inverse ETF. Inverse ETFs are designed to perform the opposite of the underlying index, though over longer periods of time, are not a perfect offset. Hence, inverse ETFs should only be used in the short term. Inverse ETFs are particularly useful for IRA accounts which are not allowed to use margin. The only way to employ a short strategy in an IRA account is through the use of an inverse ETF.

There are a large number of inverse Bond ETFs that are available that allow you to short bonds on the basis of maturity (20 year bonds versus 7-10 year bonds) or by credit quality (High Yield). The expense ratios tend to be much higher than their "long" counterparts because they require considerably greater effort and monitoring on the part of the ETF sponsor.

An example of such an inverse Bond ETF is TBF, the ProShares short 20+ Year Treasury ETF, which is among the largest of these with about $740 million in AUM and high average volume of over 700K shares over the last 90 days. But, management expense ratios are high at 0.93%.

There are inverse exchange-traded notes or ETNs, but we generally advise against these because they do represent credit risk that is associated with the issuer. There are lower management expenses associated with these (example, TAPR with a 0.43% management expense ratio), but as I said, there is credit risk associated with these.

Keep in mind that the prevailing wisdom for some time has been that rates are moving up. TBF has had only one positive return year (2013-the year of tapering) since 2010.

I hope that addresses your question.

January 2017
What is the most efficient and valuable method to value a stock?
63% of people found this answer helpful
December 2016
    Investing, Asset Allocation, Real Estate
How can I identify REITs that will help my income grow over the long term?
50% of people found this answer helpful
January 2017
When a company buys back shares in a private deal, does it show up in the daily volume?
50% of people found this answer helpful
March 2017
    Financial Planning
What is a wrap account and what are the advantages of using one?
46% of people found this answer helpful
December 2016