Lifetime Access
10
hours
26
Lessons
3
Modules
Buy the Bond Masterclass once, own it forever
The investing world is full of fashion victims. Stuff goes in and out of fashion a lot. Right now, bonds are very unfashionable. I’ve actually seen suggestions that people should have no allocation to bonds whatsoever. That is dumb.
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An obvious reason it is dumb is that unlike stocks (hello 1929), bonds have never lost 89% of their value.
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Another obvious reason it is dumb is that diversification matters. Who cares if you hate bonds right now? If you do not have something in your portfolio that you hate, then you are not diversified!
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I am not going to lie to you and tell you this Masterclass is edge-of-your-seat Hollywood blockbuster exciting. Bonds are a bit unsexy, but their unsexiness is what lets you sleep at night.
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I have a saying you may have heard before: If you understand only stocks, you know nothing about finance. If you understand bonds and options, you know everything about finance.
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I built this course because too many smart investors are flying blind when it comes to fixed income. They know they should have bonds, but they don't know why, which ones, or how much.
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By the end of this Masterclass, you will understand all of that and more. — JD
The Masterclass Includes:
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3 Complete Modules
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2 Model Portfolios (Conservative and Aggressive)
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Videos explaining tricky bond concepts
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Recaps, Resources, & Real-World Examples
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Quizzes to cement your learning
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Up to 4.0 CE Credits
Module 3:
Your Bond Portfolio
Theory is one thing. Building a portfolio is another. In this module, we get practical:
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How to evaluate bond funds and ETFs (because most people will own funds, not individual bonds)
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The difference between actively managed funds and passive index funds
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Jared's two model portfolios: Conservative and Aggressive
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How to allocate your bond portfolio based on your goals and risk tolerance
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Tax considerations and how to structure your portfolio for maximum efficiency
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When to rebalance and how to avoid common portfolio mistakes
Module 2:
Your Crash Course in 7 Types of Bonds
Not all bonds are created equal. Once you understand the mechanics, it's time to learn the types — and how to match them to your goals. This module includes:
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Treasuries: The safest bonds, how auctions work, and Treasury STRIPS
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Investment-grade corporate bonds: How to evaluate credit risk and avoid getting screwed by covenants
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High-yield bonds: The stock-like bond, and when (if ever) you should touch them
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Mortgage-backed securities: What they are and how they fit into a portfolio
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Municipal bonds: The high earner's tax haven (and when they make sense)
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International bonds: The world of unknowns and emerging market risks
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Money market securities: Good places to park cash
Module 1:
How Bonds Actually Work
This is where we fix investors’ biggest bond blind spots. Module 1 covers:
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Why you should have a lot of bonds in your portfolio (spoiler: it's not just about "safety")
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The time value of money and why present value is the key to understanding bonds
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What a bond actually is, how it's valued, and why its price moves
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Interest rate risk and duration — the concepts that trip up most investors
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The yield curve and why it matters more than you think
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How the Federal Reserve influences your bond portfolio
Masterclass Overview: What You'll Learn
You're
a Pro
Maybe you run money, or you advise clients, or you've just been in the markets long enough to know that fixed income is not as simple as people think.
The Masterclass will help you deepen your understanding of bond mechanics, refresh your knowledge of yield curves and convexity, and get Jared's real-world take on portfolio construction.
Oh, and it counts for up to 4.0 CE credits.
You Own/Have Owned
Some Bonds
You own some bond funds, maybe some Treasuries, munis, stuff like that. You’re comfortable with the basics but you're not totally confident in your allocation. You're not sure if you're in the right funds, or if you're taking on too much (or too little) risk.
The Masterclass will help you understand what you own, how to evaluate bond funds and ETFs, and how to structure a portfolio that matches your actual goals and time horizon.
You'll get clarity on duration, credit risk, and tax efficiency, and you'll stop second-guessing yourself.
You're Just
starting Out
You know bonds exist. You know you're supposed to have some. But you don't really understand what they are, how they work, or why they matter. The Masterclass starts from scratch, explaining time value of money, present value, duration, and yield curves in a way that actually makes sense.
You'll finally understand why bond prices move, what makes one bond different from another, and how to build a portfolio that won't blow up when interest rates change.
Most importantly: you'll know how much of your portfolio should be in bonds — and why it's probably more than you think.
The Masterclass Is For You If...
Why Should I Listen to This Guy on Bonds?
If you’re new here, welcome…! Jared has been trading for 25+ years. He traded index arbitrage and ETFs at Lehman Brothers from 2001 to 2008, where he had a front-row seat to the financial crisis — and saw firsthand how bonds performed when stocks imploded.
These days, bonds make up a significant portion of his own portfolio – and a crucial part of his Awesome Portfolio.
Jared is the founder of The Daily Dirtnap and co-founder of Jared Dillian Money. He writes the investment newsletters Street Freak and Jared Dillian’s Strategic Portfolio, and is the author of several books including Street Freak, No Worries, and Night Moves. He’s also a musician, educator, and former Coast Guard officer, with an MBA and an MFA to his name.
The Masterclass takes Jared’s 2+ decades of experience with bonds, and his years of teaching bonds to MBA students, and distills them into a comprehensive, easy-to-understand guide.
What You’ll Walk Away With
The Math That Actually Matters
You'll understand present value, duration, and yield-to-maturity not as abstract concepts, but as practical tools for evaluating bonds. No PhD required. Just clear explanations with real examples.
Two Ready-to-Use Portfolios
Jared's Conservative and Aggressive model portfolios with specific bond fund and ETF recommendations. Copy them directly, or use them as templates to build your own allocation.
Visual Learning for Tricky Concepts
Duration, convexity, yield curves… some things are easier to see than read. The Masterclass includes video walkthroughs of the concepts that trip most people up.
Risk Management You Can Apply Tomorrow
Learn how to actually use duration to manage interest rate risk, how to evaluate credit risk without relying blindly on ratings agencies, and how to structure a portfolio that won't implode when rates move.
Access It Forever, Anywhere
One payment. Lifetime access online, plus a downloadable PDF. Come back whenever you need a refresher or want to show your advisor why their 90/10 recommendation is insane.
CE Credits for Professionals
For professionals, the Bond Masterclass is eligible for 3.0 continuing education credits with IWI and 4.0 for CFP.
Don't take Our Word for It... Here's What Masterclass Students Think
“
Jared covers topics that were completely new to me. I found I had to digest the material in small bites while I learned the language. Think of it like a college level class. You will have to take notes.
— Robert S.
“I'm a currently working through your Options Masterclass, and I just wanted to say how impactful it's been. I recently took a derivatives class, but your master class blows that out of the water.”
— Henry S.
“Worth it even if you consider yourself a seasoned pro in the options markets — which I do”
— Phil
“Excellent information with a very practical viewpoint. No get rich euphoria!”
— Walt M.
“With this class, Jared took me inside the building. For years I've been outside the building. I thought I knew enough about ETFs. But with this class, I now know so much more, and I know how to move forward with a strategy for successful investing.”
— Jonny C.
“I appreciate your writing and I'm enjoying reading about options which is not something I thought I would ever write.”
— John T.
“Essential for beginners, very useful for everyone else.”
— Eric G.
“Written to give you actionable treatment of the stuff you need to know to keep you from being a complete patsy at the table with card sharks.”
— Joe W.
“Thank you so much for the Chat GPT inclusion in the Masterclass. Wow, it's incredible. Like having my own Private Tutor 24/7.”
— Marie C.
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“It's in the name "Masterclass", the class takes a complicated subject and explains it in a way that makes sense for those with little or no knowledge on the subject.”
— Daniel G.
The BOND
Masterclass.
Get Instant Access to Jared Dillian’s Bond Masterclass
Here's what most people do when they realize they don't understand bonds: they read a few articles, maybe buy a bond fund or two, and hope for the best. Then they wonder why their portfolio gets hammered or why their "safe" allocation isn't performing like they expected. And by the way, these people are streets ahead of those people who don’t bother at all!
The Bond Masterclass gives you a complete understanding of how bonds actually work, how to evaluate them, and how to build a portfolio that matches your goals.
For $399, you get:
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3 In-Depth Modules: From bond basics to building your portfolio
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Two Model Portfolios: Conservative & Aggressive, with specific allocation guidance
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The Masterclass Video Series: Visual explanations of stuff like duration, convexity, yield curves, and other concepts that are easier to see than read
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Quizzes: Designed to cement your knowledge so it actually sticks
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Online and Downloadable PDF Access: Take the course however you want, come back whenever you need
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All for a one-time payment of $399
“There are a lot of reasons you invest in bonds. First, bonds do provide diversification. Second, in the bear markets, bonds are not only a place to hide out, but they also provided handsome returns and a cushion against volatility in your portfolio. You didn’t used to have to convince people to invest in bonds. They just did! It was the right thing to do.”
— Jared Dillian, co-founder Jared Dillian Money (June, 2026)
Questions,
Answered.
Nope — this is a one-time purchase. No recurring charges, no fine print.
Absolutely. Once you're in, you can go through the material whenever you want, as fast or slow as you want.
That depends on how deep you want to go. You could work through the core material in a few sittings, or take your time and absorb it over a few weeks. But this isn't something you'll do once and forget: you'll likely come back to it as you build and adjust your portfolio.
The Bond Masterclass is $399, and that’s a one-time payment for lifetime access.
No special tools required. The course includes everything you need: lessons, video series, model portfolios, and worksheet examples.
Zero. This course was built with beginners in mind — but it's rich enough that intermediate investors (and even pros) will find real value here. If you already know a bit about bonds, you might move through the course faster.
Yes. And more importantly, you'll be ready to build a smart bond portfolio. One that matches your goals, risk tolerance, and time horizon. That's the whole point.
Yes. Module 3 includes two model portfolios (Conservative and Aggressive) with specific bond fund and ETF recommendations, along with Jared's allocation guidance.
If you are a financial professional, you are also eligible for 3.0 continuing education credits with IWI and 4.0 for CFP. Details here.
Jared has been in the markets for 25+ years, and has been teaching MBA students about bonds for years. He traded index arbitrage and ETFs at Lehman Brothers from 2001 to 2008, where he saw firsthand how bonds perform during market crises.
It's not a textbook filled with finance-speak that requires a PhD. It's exactly what you need to know, explained clearly, with real-world examples and practical portfolio guidance. Most bond courses either dumb things down too much or make them unnecessarily complex. This one strikes the balance: clear, thorough, and actionable.
Nope. You can start investing in bond funds with a few thousand dollars. The Masterclass explains how to build a diversified bond portfolio using ETFs and mutual funds, which are accessible to investors of all sizes.
There is no refund. That's because the course is delivered both online and as a downloadable PDF, which you can access immediately upon purchase. Once you have the materials, you have the materials.
About Jared Dillian Money
Jared Dillian Money is a financial research and education company focused on helping thoughtful investors act decisively and manage risk like professionals. Investors don’t want more noise – they want clear thinking from someone they can trust. Not only that, they want to develop their own thinking, which is why Jared “teaches how to fish.”
Jared Dillian Money offers a range of services, including Street Freak, The Strategic Portfolio, and The Daily Dirtnap, and a growing library of Masterclasses. What they have in common is straight-talking financial wisdom - the kind that comes from 25+ years of trading experience, deep market insight, and a touch of cynicism.
Everything at Jared Dillian Money is designed to help you invest smarter, stay grounded, and avoid blowing yourself up. Whether you’re trading your own account or managing money for others, this is a place for people who take markets seriously… and aren’t afraid to take the other side of the trade.
About The Bond Masterclass
Published in 2019, the Bond Masterclass is the second in Jared Dillian Money’s Masterclass series, which also includes the highly rated ETF Masterclass (2017) and Options Masterclass (2025).
"Most people think they understand bonds," Jared says. "They know that bonds go down when interest rates go up. And that's it. That's like knowing stocks go up and down and calling yourself an expert. You're missing the whole picture."
The Masterclass is designed to help investors — from beginners to professionals — understand how bonds actually work, how to evaluate different types of bonds, and how to build a portfolio that matches their goals. It's practical, math-based (but not painful), and refreshingly honest about both the benefits and the risks.
Jared has been in the markets for 25+ years and uses bonds extensively in his own portfolio. The Masterclass fills a gap in a market full of either oversimplified advice or impenetrable textbooks. If you're serious about understanding fixed income, it's a hell of a good place to start.