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South Carolina Business Review

Stocks seem to be recovering from 2022 losses, why aren't bonds?

By Mike Switzer
Published June 20, 2023 at 5:30 AM EDT
Courtesy of Wes Johnson

You’ve probably noticed that your 401k balance has been looking better over the last few months. If you don’t have any bonds in your portfolio, that is. While the stock market has been recovering, the bond market is still suffering. What gives? After all, the Fed stopped raising interest rates. Mike Switzer interviews Wes Johnson, a certified financial planner with ACT Advisors in Charleston, SC.

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Mike Switzer
After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.
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