Bond Original
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 James Bond You Only Live Twice Original 1967 Candid Photo Roald Dahl Neal $59.00 Time Remaining: 28d 21h 57m Buy It Now for only: $59.00 |
 LIVING DAYLIGHTS 1987 JAMES BOND 007 ORIGINAL 27X41 ONE SHEET POSTER $8.50 (2 Bids) Time Remaining: 1h 31m |
 Original JAMES BOND MAJESTYs SECRET SERVICE Ital Movie Poster 007 ski OHMSS $62.00 (8 Bids) Time Remaining: 2d 19h 2m |
 James Bond You Only Live Twice 1967 Original Candid Photo Roald Dahl Neal $59.00 Time Remaining: 28d 21h 57m Buy It Now for only: $59.00 |
 GOLDFINGER VIVA JAMES BOND SEAN CONNERY ORIGINAL MEDIUM MOVIE POSTER $49.99 Time Remaining: 23h 31m |
 James Bond Moonraker Original 1979 Promo Photo Bond Villians Gert Frobe $19.95 Time Remaining: 29d 24m Buy It Now for only: $19.95 |
 Original JAMES BOND GOLDFINGER Ita Movie Poster 007 Sean Connery 1sh art $81.00 (6 Bids) Time Remaining: 3d 16h 29m |
 CASINO ROYALE JAMES BOND 007 ORIGINAL MEDIUM POSTER $74.99 Time Remaining: 1d 34m |
 James Bond Moonraker Original 8x10 Photo D6171 $14.99 Time Remaining: 24d 15h 30m Buy It Now for only: $14.99 |
 1979 Vintage Original LOIS CHILES MOVIE PHOTO JAMES BOND MOONRAKER $8.00 Time Remaining: 2h 35m |
 FOR YOUR EYES ONLY BRITISH QUAD ORIGINAL MOVIE POSTER 1981 JAMES BOND $500.00 Time Remaining: 29d 2h 46m Buy It Now for only: $500.00 |
 Original JAMES BOND 007 French Movie Poster Sean Connery 1sh film art $19.95 Time Remaining: 3d 16h 38m |
 Original One Sheet Movie Poster 1981 James Bond For Your Eyes Only Roger Moore $29.95 Time Remaining: 2d 1h 57m |
 LIVING DAYLIGHTS james bond 007 dalton 2 ORIGINAL 1987 studio produced PASSPORTS $24.98 Time Remaining: 5d 7h 54m Buy It Now for only: $24.98 |
 VINTAGE ORIGINAL LUCIANA PALUZZI FAN MAIL PHOTO JAMES BOND THUNDERBALL $8.00 Time Remaining: 4h 3m |
 You Only Live Twice JAMES BOND 1967 original release 30x40 poster in English $125.00 Time Remaining: 4d 7h 2m Buy It Now for only: $125.00 |
 YOU ONLY LIVE TWICE VIVA JAMES BOND SEAN CONNERY ORIGINAL MEDIUM POSTER $49.99 Time Remaining: 23h 31m |
 REDUCED VINTAGE MOVIE POSTER THE LIQUIDATOR 1966 ORIGINAL JAMES BOND LIKE $30.00 Time Remaining: 1d 15h 21m Buy It Now for only: $42.00 |
 DIAMONDS ARE FOREVER Photo SEXY BABE JAMES BOND SEAN CONNERY original still $29.99 Time Remaining: 11d 1h 20m Buy It Now for only: $29.99 |
 1956 ORIGINAL THE SEARCHERS Movie Lobby Card 6 John Wayne Ward Bond Vera Miles $175.00 Time Remaining: 1d 13h 6m |
 For Your Eyes Only Original One Sheet Roger Moore James Bond 007 $34.99 Time Remaining: 17d 5h 56m Buy It Now for only: $34.99 |
 1956 ORIGINAL THE SEARCHERS Movie Lobby Card 3 John Wayne Ward Bond Vera Miles $150.00 Time Remaining: 1d 13h 6m |
 007 Original Soundtrack James Bond Thrillers Goldfinger Dr No and More $4.99 Time Remaining: 18h 26m |
 Donna Corcoran Ward Bond Original Photo Gypsy Colt $9.95 Time Remaining: 6d 2h 47m Buy It Now for only: $9.95 |
 James Cagney Ward Bond KISS TOMORROW LOBBY CARD GENUINE VINTAGE ORIGINAL 1950 $4.99 Time Remaining: 1d 19h 24m Buy It Now for only: $9.99 |
 DR NO ORIGINAL JAMES BOND MOVIE POSTER 007 $150.00 Time Remaining: 13d 17h 28m Buy It Now for only: $150.00 |
 JAMES BOND SPOOF Luis Davila Jose Greci LOBBY CARD GENUINE ORIGINAL 1965 $6.49 Time Remaining: 1d 19h 57m Buy It Now for only: $9.99 |
 1967 SEXY BIKINI BABES SPIES NO JAMES BOND ORIGINAL SPANISH MEXICAN 1SH POSTER $9.99 Time Remaining: 3d 5h 12m |
 NEVER SAY NEVER AGAIN b w BARBARA CARRERA KIM BASINGER JAMES BOND original photo $9.99 Time Remaining: 29d 15h 29m Buy It Now for only: $9.99 |
 ORIGINAL 1981 FOR YOUR EYES ONLY JAMES BOND 1 SH MOVIE POSTER $24.99 (1 Bid) Time Remaining: 5d 22h 1m |
 SEAN CONNERY GOLDFINGER ICONIC BARECHESTED JAMES BOND VINTAGE ORIGINAL PHOTO $49.99 Time Remaining: 21d 18h 57m Buy It Now for only: $49.99 |
 NEVER SAY NEVER AGAIN JAMES BOND CAR BOAT BIKINI GIRLS ORIGINAL POSTER $44.99 Time Remaining: 23h 31m |
 ORIGINAL JAMES BOND A VIEW TO A KILL MOVIE POSTER 1 SIDED ROLLED 850004 $14.99 (1 Bid) Time Remaining: 6d 1h 5m |
 Live And Let Die James Bond 1973 original 3 sheet poster in English 40 x 80 $225.00 Time Remaining: 1d 14h 37m Buy It Now for only: $225.00 |
 2 1967 Joanna Pettet James Bond 007 Casino Royale Original Movie Photo Lot C19 $9.99 Time Remaining: 6d 2h 12m |
 DR NO ORIGINAL ROLLED JAMES BOND MOVIE POSTER 007 $199.99 Time Remaining: 13d 17h 29m Buy It Now for only: $199.99 |
 RARE 1929 ORIGINAL VINTAGE LOBBY CARD VOICE OF THE STORM FBO Bond $125.00 Time Remaining: 2d 2h 19m |
 1967 Sean Connery James Bond 007 You Only Live Twice Original Movie Photo C28 $9.99 Time Remaining: 6d 2h 3m |
 James Bond Moonraker Original 8x10 Photo D6172 $14.99 Time Remaining: 24d 15h 30m Buy It Now for only: $14.99 |
 1974 ROGER MOORE Britt Ekland James Bond 007 Vintage Original Movie Photo C78 $9.99 Time Remaining: 6d 2h 52m |
 GOLDFINGER CineMasterpieces ITALIAN 2SH JAMES BOND ORIGINAL MOVIE POSTER 1980s $495.00 Time Remaining: 25d 3m Buy It Now for only: $495.00 |
 1972 ROGER MOORE James Bond 007 Vintage Original Movie Photo C76 $9.99 (1 Bid) Time Remaining: 6d 2h 54m |
 A VIEW TO A KILL ORIGINAL LOBBY CARD SET OF 8 JAMES BOND 007 ROGER MOORE 1985 $99.99 Time Remaining: 2d 46m |
 JAMES BOND Roger Moore View to a Kill Original Photo $7.95 Time Remaining: 20d 6h 7m Buy It Now for only: $7.95 |
 GOLDFINGER Original 1964 Sean Connery James Bond Film Photo 4 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 JAMES BOND CASINO ROYALE 2006 ORIGINAL REG MOVIE POSTER $15.00 Time Remaining: 24d 2h 2m Buy It Now for only: $15.00 |
 JAMES BOND SEXY SPOOF LADY SPY CAT LOBBY CARD GENUINE VINTAGE ORIGINAL 1967 $4.99 Time Remaining: 1d 19h 27m Buy It Now for only: $9.99 |
 MOONRAKER ORIGINAL ADVANCE STYLE 27X41 ROLLED MOVIE POSTER JAMES BOND 007 $150.00 Time Remaining: 2d 41m |
 Rare 7 James Bond Original Motion Picture Records $39.99 Time Remaining: 12d 23h 9m Buy It Now for only: $39.99 |
 Original James Bond You Only Live Twice Thunderball Movie Promotional Poster $49.99 Time Remaining: 1d 1h 42m |
 James Bond A View To A Kill Original 8x10 Photo C8268 $7.49 Time Remaining: 21d 11h 38m Buy It Now for only: $7.49 |
 GOLDFINGER Original 1964 Sean Connery James Bond Film Photo 7 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 JAMES BOND View To a Kill Roger Moore TANYA ROBERTS Original Party INVITATION $4.99 Time Remaining: 1d 16h 30m |
 007 Bond Die Another Day Movie Poster 27X40 New Original Not A Reprint Brosnan $14.95 Time Remaining: 3d 13h 8m Buy It Now for only: $14.95 |
 Quantum of Solace D S Original 27x40 Movie Poster Daniel Craig James Bond 007 $14.95 Time Remaining: 23h 56m |
 LILIAN BOND vintage 1933 Stamped FRAKER CLOSE UP PORTRAIT ORIGINAL Photo LILLIAN $19.95 Time Remaining: 6d 4h 49m Buy It Now for only: $19.95 |
 FOR YOUR EYES ONLY Original 1981 Roger Moore James Bond Film Photo $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 LIVE AND LET DIE Original 1973 Roger Moore James Bond Film Photo $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 MOONRAKER Original 1979 JAMES BOND 007 ROGER MOORE LOIS CHILES One Sheet POSTER $59.95 Time Remaining: 1d 7h 39m Buy It Now for only: $59.95 |
 MOONRAKER Original 1979 Roger Moore James Bond Film Photo 1 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 GENE TIERNEY WARD BOND original movie photo 1941 TOBACCO ROAD $20.00 Time Remaining: 6d 1h 5m Buy It Now for only: $20.00 |
 THE MAN WITH THE GOLDEN GUN ORIGINAL PRESSBOOK 1974 ROGER MOORE JAMES BOND 007 $19.99 Time Remaining: 3d 15h 51m |
 JOANNA PETTIT as 007 James Bond daughter Casino Royale original press photo $9.00 Time Remaining: 19h 3m |
 LIVE AND LET DIE photo JAMES BOND JANE SEYMOUR ROGER MOORE original publicity bw $19.99 Time Remaining: 29d 16h 40m Buy It Now for only: $19.99 |
 Die Another Day 27x40 Original Movie Poster Recalled James Bond $9.95 Time Remaining: 23h 56m |
 Original THUNDERBALL 1970s Sean Connery 007 JAMES BOND Movie Poster $154.00 Time Remaining: 23d 20h 13m Buy It Now for only: $154.00 |
 DIAMONDS ARE FOREVER Original 1971 Sean Connery James Bond Film Photo 1 $14.99 Time Remaining: 2d 6h 52m Buy It Now for only: $20.00 |
 DIAMONDS ARE FOREVER Original 1971 Sean Connery James Bond Film Photo 2 $14.99 Time Remaining: 2d 6h 52m Buy It Now for only: $20.00 |
 MOONRAKER ORIGINAL US ONE SHEET MOVIE POSTER ROGER MOORE JAMES BOND $80.00 Time Remaining: 27d 1h 57m Buy It Now for only: $80.00 |
 DIAMONDS ARE FOREVER Original 1971 Sean Connery James Bond Film Photo 3 $14.99 Time Remaining: 2d 6h 52m Buy It Now for only: $20.00 |
 Gene Tierney Original 1941 Photo Ward Bond Tobacco Road Charley Grapewin $29.95 Time Remaining: 2d 1h 48m Buy It Now for only: $29.95 |
 MAN WITH THE GOLDEN GUN Original 1974 James Bond Film Photo 1 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 SPY WHO LOVED ME Original 1977 James Bond Underwater Car Photo 1 $14.99 Time Remaining: 2d 6h 54m Buy It Now for only: $20.00 |
 Roger Moore Sexy Girls James Bond Original 8x10 Photo c $9.99 Time Remaining: 27d 4h 12m Buy It Now for only: $9.99 |
 SPY WHO LOVED ME Original 1977 James Bond Sexy Gals Photo 2 $14.99 Time Remaining: 2d 6h 54m Buy It Now for only: $20.00 |
 James Bond 007 1987 The living Daylights 8 x 11 original release mini poster $15.00 Time Remaining: 9d 6h 31m Buy It Now for only: $15.00 |
 MOONRAKER Original 1979 Richard Kiel James Bond Film Photo 2 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 LIVING DAYLIGHTS James Bond Original Vintage French Poster Linen Backed $60.00 (1 Bid) Time Remaining: 2d 44m |
 JAMES BOND LIVE AND LET DIE ROGER MOORE ORIGINAL MOVIE POSTER 36X14 $99.99 Time Remaining: 26d 18h 43m Buy It Now for only: $99.99 |
 OCTOPUSSY ORIGINAL ROLLED 27x41 POSTER JAMES MOVIE BOND 007 ROGER MOORE $199.99 Time Remaining: 2d 41m |
 007 BOND CONNERY DIAMONDS ARE FOREVER ORIGINAL POSTER $59.95 Time Remaining: 12d 23m Buy It Now for only: $59.95 |
 JAMES BOND FOR YOUR EYES ONLY Original 1981 ROLLED MOVIE POSTER 22X28 $50.00 Time Remaining: 4d 20h 50m |
 ROGER MOORE ORIGINAL PHOTO JAMES BOND 007 THE MAN WITH THE GOLDEN GUN $15.00 Time Remaining: 1d 19h 38m Buy It Now for only: $20.00 |
 Ward Bond Sally Blane 1930s Original Lobby Card $14.95 Time Remaining: 21d 1h 17m Buy It Now for only: $14.95 |
 MAN WITH THE GOLDEN GUN Original 1974 James Bond Film Photo 2 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 GOLDFINGER ORIGINAL ROLLED JAMES BOND MOVIE POSTER 007 $250.00 Time Remaining: 13d 17h 30m Buy It Now for only: $250.00 |
 A VIEW TO A KILL JAMES BOND 007 ROGER MOORE ORIGINAL ROLLED MOVIE POSTER $60.00 Time Remaining: 1d 19h 27m Buy It Now for only: $75.00 |
 GOLDFINGER Original 1964 Sean Connery James Bond Film Photo 2 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 LIVE AND LET DIE photo JAMES BOND ROGER MOORE original 1973 publicity still $19.99 Time Remaining: 27d 15h 36m Buy It Now for only: $19.99 |
 GOLDFINGER Original 1964 Sean Connery James Bond Film Photo 3 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 PHOTO Original B7144 Pierce Brosnan James Bond $6.99 Time Remaining: 8d 21h 44m Buy It Now for only: $6.99 |
 GOLDFINGER Original 1964 Sean Connery James Bond Film Photo 5 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 GOLDFINGER Original 1964 Sean Connery James Bond Film Photo 6 $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 JAMES BOND WORLD IS NOT ENOUGH ORIGINAL US MOVIE POSTER $15.00 Time Remaining: 24d 2h 3m Buy It Now for only: $15.00 |
 FROM RUSSIA WITH LOVE Original 1963 James Bond Film Photo $14.99 Time Remaining: 2d 6h 53m Buy It Now for only: $20.00 |
 FOR YOUR EYES ONLY photo ROGER MOORE JAMES BOND original publicity still $14.99 Time Remaining: 10d 16h 38m Buy It Now for only: $14.99 |
 YOU ONLY LIVE TWICE Original 1967 James Bond Film Photo 1 $14.99 Time Remaining: 2d 6h 55m Buy It Now for only: $20.00 |
 YOU ONLY LIVE TWICE Original 1967 James Bond Film Photo 2 $14.99 Time Remaining: 2d 6h 55m Buy It Now for only: $20.00 |
 Goldfinger original 1964 lobby card 4 James Bond 007 $80.00 Time Remaining: 25d 13h 37m Buy It Now for only: $80.00 |
 YOU ONLY LIVE TWICE Original 1967 James Bond Film Photo 3 $14.99 Time Remaining: 2d 6h 55m Buy It Now for only: $20.00 |
Bond Original
Searching for Income…Bond Investing
Bond investing basics are simple. When you buy a bond, the bond issuer - either a government or corporation - pays you an agreed-upon rate of interest known as the coupon rate. In addition, you get your original investment back when the bond reaches a maturity date.
Bonds come in many flavors: taxable and tax-exempt, long- and short-term, AAA-rated and junk, inflation-protected, fixed-rate and variable-rate.
Before investing in a bond issue, you should consider several factors.
Do you want to go long- or short-term? Normally, longer-term bonds pay higher interest than shorter-term bonds. However, monetary policy and inflation expectations vary with time, so sometimes the normal yield curve may flatten (meaning short- and long-term rates are equal) or invert (short-term rates are higher than long-term rates).1 When this occurs, it can be very hard to sell a long-term bond because investors can get the same or higher rate investing short-term.
The big question here is: where do you want to be on the yield curve? How long do you want to invest your money for a given return on your investment?
How much risk do you want to assume?As interest rates go down, the value of a bond goes up … and when interest rates climb, a bond's value falls. If an investor wants less risk, he might choose to buy a short bond, as its value will fluctuate less when interest rates vary. Long bonds usually offer higher interest rates because they typically carry more risk.
Historically if an investor wants no risk, short-term U.S. Treasuries were always the consensus best choice. After all, Uncle Sam backs them up - but they pay a comparatively low rate of return, however as I have talked about in my previous column the burgeoning U.S. debt most now be included as part of the risk analysis for purchasers of U.S. Treasuries.
A bond's duration relates to risk. (The duration of a bond is a measurement of how long it will take for the price of a bond to be recouped by internal cash flow paid out by the bond.) A debt instrument with 1-year duration is not very sensitive to interest rate fluctuations, while a really long bond with 30-year duration will have its value fluctuate sharply with even a small interest rate change. Generally, a bond that pays a higher interest rate and has a longer term will have a higher duration.2 As an aside please note though U.S. interest rates are paltry at present; a) they have only one direction to head in the coming years b) other "stable" countries have and are continuing to raise their interest rates.
How important is the rating to you? Investors usually look to Standard & Poor's or Moody's for bond ratings. Government bonds are perceived as less risky than private sector bonds. Some bond investors do have relatively high risk appetites, with some even buying "high yield" or "junk" bonds from troubled firms whose interest payments are considered more in doubt. The riskier a bond, the higher the interest rate investors will demand.3 Again I would be remiss if I did not remind you that a portion of the recent financial upheaval was rooted in the lack of creditably of the ratings provided by Moody's and other rating agencies, so use them as a guide and not gospel!
Do you want a tax-free or taxable bond? Many federal and municipal bonds are tax-exempt to some degree. Correspondingly, their coupon rates are lower than corporate bonds. You need to compare muni-bond and corporate bond rates on an after-tax basis.
You do this by calculating the tax-equivalent yield, which equals the tax-free interest rate divided by (1 – investor's federal tax rate, or federal tax bracket).4
Consider two investors. Investor A pays a 25% federal tax rate while Investor B is in the 35% federal bracket. Should they buy a municipal bond paying 4%, or a highly rated corporate bond paying 6%?
Well, the real question becomes: What will they take home after taxes?
They run the numbers on the muni-bond. Investor A calculates his after-tax yield as 5.33% (4%/(1-.25) = 5.33%). Investor B gets 6.15% (4%/(1-.35) = 6.15%) after taxes.
Investor B chooses the muni-bond. However, Investor A figures out that the tax exemption saves her less, so she selects a corporate bond and pays taxes on it.
Other options include inflation protection and variable rates. Treasury Inflation-Protected Securities (TIPS) are issued by the U.S. Treasury, and their principal depends upon the Consumer Price Index. Their principal increases with inflation and decreases with deflation. TIPS appeal to investors who fear that inflation could erode the value of their investment. When TIPS mature, the investor redeems either the original value of the security or the inflation-adjusted value, whichever is greater.5
Investors who can tolerate varying interest payments may decide to buy a variable-rate bond. The return on these bonds reflects the general level of inflation, and commonly rises with rising interest rates.6
Bond investing demands educated decision-making and thorough analysis. The global bond market is approximately $82.2 trillion while the global stock market is estimated at only $37 trillion. Clearly there are an abundance of bonds in varieties that investors can find appropriate for their income needs, tax situation, time horizon, and risk tolerance, just make sure to do your homework and a good tutor maybe helpful.
About the Author
Financial Management Strategies (FMS) is a Registered Investment Advisory firm in the State of Maryland. We specialize in comprehensive wealth management and wealth preservation for individuals and small businesses, providing premium services in financial planning, business consulting, financial analysis and research, wealth management and real estate development.
Mr. Petiri is a Registered Investment Advisor. His nearly two decades of financial experience covers virtually all areas of finance from tax, insurance, stockbrokerage, personal financial planning and personal banking to corporate credit, business planning and consumer lending.
Recession, Bond Bubble, unemployment insurance, my investments