When Standard & Poor’s famously downgraded U.S. debt in August, Moody’s and Fitch, the two other big ratings agencies, steadfastly declined to go that far with the sacred cow of investments and kept their triple-A ratings in place. But what do Moody’s and Fitch think? I had that question in the back of my mind when Jeremy Fletcher proposed taking notes last Monday at the Fitch conference that came here to the Bay area. Fletcher (whose office is next door to ours in Mill Valley) manages portfolios — mostly bonds — for Asset Dedication LLC, whose clients consist of investors using RIAs and other financial advisory firms. Read more…
