Great investments begin with discomfort, according to Howard Marks.
At the European Investment Conference, Jochen Felsenheimer of XAIA Investments explained that high yield was no place for long-only buy and hold investors. But is any investment safe from financial Armageddon?
Most projected high-yield bond default rates in the marketplace, asserts Martin S. Fridson, CFA, are based on a calculation method that is wrong for a number of reasons.