High Yield Debt succeeds as a concise and thorough primer on the speculative-grade debt market, including not only high-yield bonds but also leveraged loans and other related asset types. The author, who manages a credit hedge fund, presents sound conclusions on such controversial topics as the impact of exchange-traded funds on market volatility. The book is an invaluable resource for its target market of institutional decision makers.
In the final analysis, can we truly measure the emissions of our portfolio? Or understand what the actual “carbon footprint” is? No, not really, says Christopher K. Merker, CFA, but it is becoming easier.
Jason Voss, CFA, provides his picks for Weekend Reads for Investors. This edition curates stories on the potential repeal of the tax deduction corporations in the United States receive on debt payments, the end of Big Oil, how we can recognize machine consciousness, and more.
Larry Cao, CFA, discusses Campbell R. Harvey's definition of blockchain; Lauren Foster describes the continuing debate between Robert J. Shiller and Jeremy Siegel; Dougal Williams, CFA, suggests investors focus on shooting par in the investment market; Martin Fridson, CFA, reviews The End of Accounting and the Path Forward for Investors and Managers; and Mimmi Kheddache Jendeby provides some investing lessons from Epictetus, in the top Enterprising Investor posts from June.
The author provides a thorough guide to the key trading strategies used by hedge funds and offers an overview of active management. He also explains such diverse approaches as quantitative, macro, dedicated short bias, and many more.
Post-financial crisis, the volume of outstanding bonds has grown. At the same time, however, consolidation among banks and broker/dealers has cut the number of market makers, and new regulations have reduced the capital these companies can commit to fixed-income inventories.
Markets are usually not systemic. Instead, from the bird’s-eye perspective of "Capitalism," many businesses are "opportunities" in the same way that it feels good to hit yourself in the head with a hammer: It's much better once you stop.
Subscribe to Enterprising Investor and receive email notifications when new content is posted.
Nasdaq says systematic internalizers will have an unfair advantage over other trading platforms under Europe's revised Markets in Financial Instruments Directive. Nasdaq is calling on the European Commission to reconsider rules governing systematic internalizers. The Trade (UK) (19 Jul.)
The Bank of Japan, which left its monetary stimulus program unchanged, has once again pushed back the date that it expects to hit its 2% inflation target. The central bank said it now expects inflation will reach 2% in the fiscal year that begins in April 2019, replacing its previous target that called for achieving 2% inflation in the 2018 fiscal year. Bloomberg (20 Jul.)
Economic talks between the US and China concluded without making progress on any of the issues. The talks ended without issuance of the traditional joint statement, and officials shortly after that canceled news conferences they had scheduled. CNBC (19 Jul.)
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.