Amy Carcione, CFA

When you ask children what they want to be when they grow up, not many of them instinctively respond, "A municipal bond trader." But I did, sort of. I knew at a very young age I wanted to work on Wall Street. I don't think I really knew what that meant at that time, but that didn't deter me. Immediately following college, I moved to New York City and began my career as an assistant portfolio manager on a tax-exempt money market trading desk.

I was lucky enough to train under a very reputable portfolio manager and manage billions in tax-exempt mutual funds and high-net-worth accounts. I quickly grew to realize the unique specialization of the market I was learning and lucky to be a part of. I took and still do take a lot of pride in working in an investment field that even seasoned professionals are not fully knowledgeable in.

Maybe not quite like I had envisioned as a little girl, but a career on Wall Street nonetheless. Over the last few decades of experience, I've come to appreciate that fixed income investments are neither glitzy nor glamorous, nor exhilarating like roller coasters, nor a rush of adrenaline. They should not stand out in your portfolio. They should not make your heart race. They should not be what keeps you up at night.

Bonds in your portfolio or asset allocation should provide income, security, and safety. That's how I like to manage fixed income portfolios here at MONTAG. That being said, I can add relative value by individual security selection. Different credits and structures are advantageous at certain times in different market cycles. I know and follow each credit I purchase closely. I follow tax law changes, as they directly impact how some municipalities collect their revenue and also how beneficial municipal bonds may be to our clients versus taxable bonds.

I am engaged with nuances in the fixed income market so that I'm poised to take advantage of opportunities and value in the market when they present themselves. One of the biggest ways I do this, like most all other areas in life, is through relationships. I pride myself on maintaining valuable relationships within my fixed income community to gain access to research, education, liquidity, and timely bond offerings to support my endeavors and those of our clients.

I also believe the relationships I maintain with my colleagues allow me to have a more integral role with their clients and the fixed income portion of their investments. My goal is to be accessible to them at all times and be able to clearly communicate what I'm seeing in the fixed income markets. Maturity of mind is the capacity to endure uncertainty. At MONTAG, I enjoy that no two days are the same.

Every day is a new bond offering, a news headline, an economic number. Even in times of relative certainty, there's always something new to learn or an adjustment that needs to be made. I challenge myself to ask questions, constantly evolve, and expect the unexpected. I think it's important to be strong in your convictions but also be nimble enough to change direction when needed.

I feel it is our job as investment professionals to be consistent with our processes while continuing to strive for greater expertise and greater results for our clients. I think being a mom of three helps equip me with the tools I need to be a better investment thinker. I'm decisive, quick on my feet, and I can multitask while staying organized. I think many steps ahead, all while being flexible and patient.

In a full house, we have good days and bad days. But each day is a new opportunity to be better at what I do and who I am.