Hurricane Ian Notice

Due to the impending Hurricane Ian and its impact on the Sarasota area; Cumberland Advisors has mobilized and relocated our disaster recovery team to our Vineland, NJ office. If the storm does affect the Sarasota area, Cumberland Advisors’ staff members are on standby, and ready to provide you with any assistance you may need.  Our phone lines and emails will be monitored, and we will respond to matters on a priority basis.
 
For any urgent concerns you may also contact the following individuals by email directly:

For our clients residing in the Sarasota area, Cumberland Advisors knows nothing is more important than the safety of you and your family. We urge you to take the necessary steps to protect your loved ones. Check your supplies and make sure you have plenty of fresh water, flashlights, and a battery-operated radio. Cumberland values our customers’ security and peace of mind, and our goal is to provide outstanding service.
 
Thank you for entrusting us to continue to provide you service and may all stay safe.

 

Excerpt from MarketWatch Featuring John R. Mousseau, CFA...
 

‘In a muni bankruptcy, the same entity emerges’: Puerto Rico exits bankruptcy with questions remaining


By Andrea Riquier – First Published: Jan. 19, 2022

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John R. Mousseau - In the News

 


Puerto Rico on Tuesday received court approval to exit its municipal bankruptcy, restructuring over $30 billion of debt, but leaving plenty of questions about the sustainability of its finances.

“This is a significant step forward,” said John Mousseau, president and CEO of Cumberland Advisors, which has $4.1 billion in assets. Cumberland holds only insured Puerto Rico bonds. “This bankruptcy has been a dark cloud for a long time. It hasn’t been beneficial to anyone. If you end up with a plan where no one is happy you probably have the right plan.”

Still, Mousseau said in an interview, “people have short memories. People said no one would ever buy Detroit’s paper again, but they are. I think people will be buying (Puerto Rico debt) again. It will be more secure but not without risk.”

Mousseau thinks Puerto Rico should be granted statehood.


Read (or listen to) the full article at MarketWatch.com: https://www.marketwatch.com/story/in-a-muni-bankruptcy-the-same-entity-emerges-and-the-same-issues-puerto-rico-exits-bankruptcy-with-questions-remaining-11642609973

 


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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.

John R. Mousseau, CFA
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