Real Vision's Jack Farley welcomes David Meneret, Founder & CIO of Mill Hill Capital, to discuss the nuances of credit markets and strategies to manage risk when investing in collateralized securities. Meneret dives into U.S. credit markets and states that the current yield reflects a failure to recognize "unknown" unknowns. He shares his framework for investing in the airline and shipping industry, including the structure of the asset-backed securities. Meneret believes that the FED's asset purchasing programs had a positive impact on U.S. credit markets by providing ample liquidity and preventing insolvency. Filmed on June 29, 2021.