I concur with your assessment of Bernanke vs Volcker and I also am not keen on long-term debt instruments. Today in the Treasury's weekly auction the six month t-bill yield was 1.825 if I read the results correctly. My investment committee held a telephonic conference and agreed that it can not authorize investing in t-bills at less than 2%. Therefore, it will have to come up with some new ideas before the t-bills mature in March and April. We have agreed that Fremont (FMT), Incymac Bank (IMB) and Thornburg are not acceptable choices.
I wish there was some way that I could accelerate the time machine back to 1974, but I have not found one as yet.
When is ITIC going to report its fourth quarter and annual results? I would have expected them to be out by now.