CHAPTER 6How to Invest in Foreign Bonds

Once, at my nine-year-old son’s Little League game, a father on the other team came over to get some free advice on his portfolio. All I wanted to do was watch my son play first base while keeping my three-year-old from taking a sand bath in the sandbox beside the bleachers, but what can I say? Requests for free advice are an occupational hazard. This father, who was not a client of mine either then or now, decided that obtaining some free financial advice was a better use of his time than watching eight- and nine-years-olds playing like the Bad News Bears, so he proceeded to tell me his life story.

A few baseball errors later, he finally got to the point. He was in his late forties, had made some good ...

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