Comments
Transcript
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RMHow much of quoted HY performance is due to the 50 year bull market we've had in fixed income? Lol. Leverage is great when tailwinds are at your back!!
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KDThis just may be the best discussion that I've ever heard on risk allocation / incorporating bonds into one's investment portfolio. Thanks Gershon
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SCInteresting to watch this after Dan Rasmussen. Totally different views.
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JMThis episode made me want to be a bond trader when I grow up. You can now officially call a top in the bond bubble, rates globally going to 5% :)
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bmThat music is horrendous
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ARVery articulate guy. I've always been 'equities' biased - learned a lot.
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NBAmazing interview!!
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PGExcellent - learned quite a bit!
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SLAnyone have a link to the whitepapers referenced early on in the interview?
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SWSuper interesting and enlightening interview. I learned so much - thank you.
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ETGreat, thanks! Very good interview
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GSmy man!
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BBI'm confused on his timelines. At the end he expounds on having a long time horizon for fixed income yet much of is talk is about monitoring risks and re-balancing portfolios as risks and opportunities change. To me that implies activity trading to some degree.
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DSAs an aside, Mr. Kudlow announced Tax Cut 2.0 will be on the Republican platform for president Trump's reelection campaign. Any tax cut that will increase the federal deficit - they all will - is just another form of MMT. This is why I am unable to think about long-term stock or bond investing. Good luck to all of you who must stay invested. Follow Mr. Distenfeld's advice for bottom-up investing, diversification and avoiding losers. DLS
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CBAwesome interview - one of the best in a while.
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SGthe guy made a lot of good points, well thought out and articulated... then he sneezed in my soup :( (he says " I dont really believe in cycles")
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SWClearly a master in this space. As a non-financial, I greatly appreciate Gershon's insights and general guidance regarding how to approach bond investing because such nuance is sadly lacking for retail participants (IMHO).
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JBReally helpful insight
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HKhah - good take on the daily tick-by-tick liquidity of the wrapper while the underlying takes weeks to process
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PUClassic WS speak
Chapters
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What's your Fixed Income Investing Framework?
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How do you analyze a particular fixed income security?
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How do you evaluate if a bond is worth the risk?
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How do High-Yield Bonds Compare to Stocks?
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How diversified should fixed income portfolios be?
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What risks do you see on the horizon?
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What's your outlook on the high yield energy space?
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Which Fixed Income Asset Class do you see the most opportunity in?
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How does your macro framework affect your outlook for fixed income?
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Where in the fixed income space is diversification the most important?
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Do you see any illiquidity risk in the market for leveraged loans?