- published: 05 Jan 2015
- views: 140
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Van Eck Global invites Professor Edward Altman to speak with Fran Rodilosso, Senior Investment Officer, about his outlook on high-yield bond markets.
High Yield: 1:08
New Issuance: 3:51
Interest Rates: 6:19
Default Rates: 7:30
Outlook and Conclusion: 10:28
Edward Altman is a Professor of Finance at the NYU Stern School of Business and a leading authority on high yield, distressed debt, and credit risk analysis. Professor Altman’s 2015 forecast for default rates is about 2.5% unless there are any extraneous or exogenous shocks. "Beyond that I think all bets are off because the fundamentals do not look good, with the possible exception of lower interest rates."
Learn more: http://www.vaneck.com
May 28 -- Franklin Templeton Fixed Income Group Senior Vice President Eric Takaha discusses the bond markets. He speaks on “Market Makers.”
- published: 28 May 2015
- views: 26
The current low interest rate environment means that bond investors have to take more risk in order to gain an attractive return on their invested money. The...
- published: 03 Sep 2013
- views: 500
- author: hubbis
When is "junk" valuable? When there's high yield to be had, of course.
Paddy Hirsch explains this potentially riskier, potentially more rewarding end of the bond market, which has famously backed many of the biggest leveraged buyouts and aggressive M&A; deals ever undertaken.
For more news, analysis, and trends on the high yield bond market check out http://www.highyieldbond.com, a free site powered by S&P; Capital IQ/LCD to promote the asset class.
You can also check out http://www.leveragedloan.com for news and analysis on that market, and LCD's Leveraged Loan Market Primer/Almanac, a free guide detailing quarterly market and historical trends, as well as market mechanics. http://http://www.leveragedloan.com/primer/
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- published: 23 Jun 2015
- views: 301
In my second segment from BloombergTV, find out why I hate high-yield bonds! The key to investing success is to use fixed income to manage volatility, not to...
- published: 13 Mar 2012
- views: 828
- author: Matson Money
The high yield market has lost its ability to appropriately price risk, and investors will need to cast a wider net to look for opportunities globally. Learn more in this video and explore additional insights at www.troweprice.com
- published: 08 Jan 2015
- views: 18
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.
The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked by the 1982 acquisition of Gibson Greetings and ending just over a decade later was characterized by a dramatic surge in leveraged buyout (LBO) activity financed by junk bonds. The period culminated in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout industry in the late 1980s and early 1990s marked by the collapse of Drexel Burnham Lambert and the high-yield debt market.
Although the "corporate raider" moniker is rarely applied to contemporary private equity investors, there is no formal distinction between a "corporate raid" and other private equity investments acquisitions of existing businesses. The label was typically ascribed by constituencies within the acquired company or the media. However, a corporate raid would typically feature a leveraged buyout that would involve a hostile takeover of the company, perceived asset stripping, major layoffs or other significant corporate restructuring activities. Management of many large publicly traded corporations reacted negatively to the threat of potential hostile takeover or corporate raid and pursued drastic defensive measures including poison pills, golden parachutes and increasing debt levels on the company's balance sheet. Additionally, the threat of the corporate raid would lead to the practice of "greenmail", where a corporate raider or other party would acquire a significant stake in the stock of a company and receive an incentive payment (effectively a bribe) from the company in order to avoid pursuing a hostile takeover of the company. Greenmail represented a transfer payment from a company's existing shareholders to a third party investor and provided no value to existing shareholders but did benefit existing managers. The practice of "greenmail" is not typically considered a tactic of private equity investors and is not condoned by market participants.
Among the most notable corporate raiders of the 1980s included Carl Icahn, Victor Posner, Nelson Peltz, Robert M. Bass, T. Boone Pickens, Harold Clark Simmons, Kirk Kerkorian, Sir James Goldsmith, Saul Steinberg and Asher Edelman. Carl Icahn developed a reputation as a ruthless corporate raider after his hostile takeover of TWA in 1985.[28] The result of that takeover was Icahn systematically selling TWA's assets to repay the debt he used to purchase the company, which was described as asset stripping.[29] In later years, many of the corporate raiders would be re-characterized as "Activist shareholders".
Many of the corporate raiders were onetime clients of Michael Milken, whose investment banking firm, Drexel Burnham Lambert helped raise blind pools of capital with which corporate raiders could make a legitimate attempt to takeover a company and provided high-yield debt financing of the buyouts.
Drexel Burnham raised a $100 million blind pool in 1984 for Nelson Peltz and his holding company Triangle Industries (later Triarc) to give credibility for takeovers, representing the first major blind pool raised for this purpose. Two years later, in 1986, Wickes Companies, a holding company run by Sanford Sigoloff would raise a $1.2 billion blind pool.[30]
In 1985, Milken raised a $750 million for a similar blind pool for Ronald Perelman which would ultimate prove instrumental in acquiring his biggest target: The Revlon Corporation. In 1980, Ronald Perelman, the son of a wealthy Philadelphia businessman, and future "corporate raider" having made several small but successful buyouts, acquired MacAndrews & Forbes, a distributor of licorice extract and chocolate, that Perelman's father had tried and failed to acquire it 10 years earlier.[31] Perelman would ultimately divest the company's core business and use MacAndrews & Forbes as a holding company investment vehicle for subsequent leveraged buyouts including Technicolor, Inc., Pantry Pride and Revlon.
http://en.wikipedia.org/wiki/Private_equity_in_the_1980s
- published: 15 Dec 2014
- views: 8
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988) Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks. The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked by the 1982 acquisition of Gibson Greetings and ending just over a decade later was characterized by a dramatic surge in leveraged buyout (LBO) activity financed by junk bonds. The period culminated in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout industry in the late 1980s and early 1990s marked by the collapse of Drexel Burnham Lambert and the high-yield debt market. Although the corporate raider moniker is rarely applied to contemporary private equity investors, there is no formal distinction between a corporate raid and other private equity investments acquisitions of existing businesses. The label was typically ascribed by constituencies within the acquired company or the media. However, a corporate raid would typically feature a leveraged buyout that would involve a hostile takeover of the company, perceived asset stripping, major layoffs or other significant corporate restructuring activities. Management of many large publicly traded corporations reacted negatively to the threat of potential hostile takeover or corporate raid and pursued drastic defensive measures including poison pills, golden parachutes and increasing debt levels on the company's balance sheet. Additionally, the threat of the corporate raid would lead to the practice of greenmail, where a corporate raider or other party would acquire a significant stake in the stock of a company and receive an incentive payment (effectively a bribe) from the company in order to avoid pursuing a hostile takeover of the company. Greenmail represented a transfer payment from a company's existing shareholders to a third party investor and provided no value to existing shareholders but did benefit existing managers. The practice of greenmail is not typically considered a tactic of private equity investors and is not condoned by market participants. Among the most notable corporate raiders of the 1980s included Carl Icahn, Victor Posner, Nelson Peltz, Robert M. Bass, T. Boone Pickens, Harold Clark Simmons, Kirk Kerkorian, Sir James Goldsmith, Saul Steinberg and Asher Edelman. Carl Icahn developed a reputation as a ruthless corporate raider after his hostile takeover of TWA in 1985.[28] The result of that takeover was Icahn systematically selling TWA's assets to repay the debt he used to purchase the company, which was described as asset stripping.[29] In later years, many of the corporate raiders would be re-characterized as Activist shareholders. Many of the corporate raiders were onetime clients of Michael Milken, whose investment banking firm, Drexel Burnham Lambert helped raise blind pools of capital with which corporate raiders could make a legitimate attempt to takeover a company and provided high-yield debt financing of the buyouts. Drexel Burnham raised a $100 million blind pool in 1984 for Nelson Peltz and his holding company Triangle Industries (later Triarc) to give credibility for takeovers, representing the first major blind pool raised for this purpose. Two years later, in 1986, Wickes Companies, a holding company run by Sanford Sigoloff would raise a $1.2 billion blind pool.[30] In 1985, Milken raised a $750 million for a similar blind pool for Ronald Perelman which would ultimate prove instrumental in acquiring his biggest target: The Revlon Corporation. In 1980, Ronald Perelman, the son of a wealthy Philadelphia businessman, and future corporate raider having made several small but successful buyouts, acquired MacAndrews & Forbes, a distributor of licorice extract and chocolate, that Perelman's father had tried and failed to acquire it 10 years earlier.[31] Perelman would ultimately divest the company's core business and use MacAndrews & Forbes as a holding company investment vehicle for subsequent leveraged buyouts including Technicolor, Inc., Pantry Pride and Revlon.
- published: 03 Mar 2015
- views: 0
A default wave will soon be hitting high yield bonds and investors better be prepared for it, says Steve Blumenthal, CEO of CMG Capital. Still, Blumenthal says there is a bright side to the coming washout in junk bonds. 'The good news is that the selloff will create one of the greatest buying opportunities of a lifetime in the not too distant future. Remember the 20% yields on high yield bonds in 2008? My two cents is that the coming opportunity will be even better,' says Blumenthal. Blumenthal says tactical trend analysis enables investors to identify the primary movements in high yield bonds. His strategy is to stay invested during the up trending cycles and shorten maturities when the trend turns down. In other words, buy the iShares iBoxx High Yield Corporate Bond ETF (HYG) or the SPDR Barclays High Yield Bond ETF (JNK) when trends are turning up.
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- published: 26 May 2015
- views: 38
Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds. Prior to the horrific collapse of stocks in 2008, high yield debt collapsed first. And as you will see below, high yield debt is starting to crash again. The primary reason for this is the price of oil. The energy sector accounts for approximately 15 to 20 percent of the entire junk bond market, and those energy bonds are taking a tremendous beating right now. This panic in energy bonds is infecting the broader high yield debt market, and investors have been pulling money out at a frightening pace. And as I have written about previously, almost every single time junk bonds decline substantially, stocks end up following suit. So don’t be fooled by the fact that some comforting words from Janet Yellen caused stock prices to jump over the past couple of days. If you really want to know where the stock market is heading in 2015, keep a close eye on the market for high yield debt.
If you are not familiar with junk bonds, the concept is actually very simple. Corporations that do not have high credit ratings typically have to pay higher interest rates to borrow money. The following is how USA Today describes these bonds…
High-yield bonds are long-term IOUs issued by companies with shaky credit ratings. Just like credit card users, companies with poor credit must pay higher interest rates on loans than those with gold-plated credit histories.
But in recent years, interest rates on junk bonds have gone down to ridiculously low levels. This is another bubble that was created by Federal Reserve policies, and it is a colossal disaster waiting to happen. And unfortunately, there are already signs that this bubble is now beginning to burst…
Back in June, the average junk bond yield was 3.90 percentage points higher than Treasury securities. The average energy junk bond yielded 3.91 percentage points higher than Treasuries, Lonski says.
That spread has widened to 5.08 percentage points for junk bonds vs. 7.86 percentage points for energy bonds — an indication of how worried investors are about default, particularly for small, highly indebted companies in the fracking business.
The reason why so many analysts are becoming extremely concerned about this shift in junk bonds is because we also saw this happen just before the great stock market crash of 2008. In the chart below, you can see how yields on junk bonds started to absolutely skyrocket in September of that year…
Of course we have not seen a move of that magnitude quite yet this year, but without a doubt yields have been spiking. The next chart that I want to share is of this year. As you can see, the movement over the past month or so has been quite substantial…
And of course I am far from the only one that is watching this. In fact, there are some sharks on Wall Street that plan to make an absolute boatload of cash as high yield bonds crash.
One of them is Josh Birnbaum. He correctly made a giant bet against subprime mortgages in 2007, and now he is making a giant bet against junk bonds…
When Josh Birnbaum was at Goldman Sachs in 2007, he made a huge bet against subprime mortgages.
Now he’s betting against something else: high-yield bonds.
From The Wall Street Journal:
Joshua Birnbaum, the ex-Goldman Sachs Group Inc. trader who made bets against subprime mortgages during the financial crisis, now has more than $2 billion in wagers against high-yield bonds at his Tilden Park Capital Management LP hedge-fund firm, according to investor documents.
Could you imagine betting 2 billion dollars on anything?
If he is right, he is going to make an incredible amount of money.
And I have a feeling that he will be. As a recent New American article detailed, there is already panic in the air…
It’s a mania, said Tim Gramatovich of Peritus Asset Management who oversees a bond portfolio of $800 million: “Anything that becomes a mania — ends badly. And this is a mania.”
Bill Gross, who used to run PIMCO’s gigantic bond portfolio and now advises the Janus Capital Group, explained that “there’s very little liquidity” in junk bonds. This is the language a bond fund manager uses to tell people that no one is buying, everyone is selling. Gross added: “Everyone is trying to squeeze through a very small door.”
Bonds issued by individual energy developers have gotten hammered. For instance, Energy XXI, an oil and gas producer, issued more than $2 billion in bonds just in the last four years and, up until a couple of weeks ago, they were selling at 100 cents on the dollar. On Friday buyers were offering just 64 cents. Midstates Petroleum’s $700 million in bonds — rated “junk” by both Moody’s and Standard and Poor’s — are selling at 54 cents on the dollar, if buyers can be found.
- published: 10 Jan 2015
- views: 537
Dec. 23 (Bloomberg) -- Martin Fridson, global credit strategist at BNP Paribas Investment Partners, talks about the outlook for high-yield debt. He speaks wi...
- published: 23 Dec 2011
- views: 112
- author: Bloomberg News
In finance, a high-yield bond (non-investment-grade bond, speculative-grade bond, or junk bond) is a bond that is rated below investment grade. These bonds have a higher risk of default or other adverse credit events, but typically pay higher yields than better quality bonds in order to make them attractive to investors.
Global issue of high-yield bonds more than doubled in 2003 to nearly $146 billion in securities issued from less than $63 billion in 2002, although this is still less than the record of $150 billion in 1998. Issue is disproportionately centered in the United States, although issuers in Europe, Asia and South Africa have recently turned to high-yield debt in connection with refinancings and acquisitions. In 2006, European companies issued over €31 billion of high-yield bonds. 2010 was a record year for European Junk Bond issuance, with as much as €50bn expected.
The holder of any debt is subject to interest rate risk and credit risk, inflationary risk, currency risk, duration risk, convexity risk, repayment of principal risk, streaming income risk, liquidity risk, default risk, maturity risk, reinvestment risk, market risk, political risk, and taxation adjustment risk. Interest rate risk refers to the risk of the market value of a bond changing in value due to changes in the structure or level of interest rates or credit spreads or risk premiums. The credit risk of a high-yield bond refers to the probability and probable loss upon a credit event (i.e., the obligor defaults on scheduled payments or files for bankruptcy, or the bond is restructured), or a credit quality change is issued by a rating agency including Fitch, Moody's, or Standard & Poors.
This page contains text from Wikipedia, the Free Encyclopedia -
http://en.wikipedia.org/wiki/High-yield_debt
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.
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12:21Professor Edward Altman’s Outlook on High-Yield Bond Markets
Professor Edward Altman’s Outlook on High-Yield Bond MarketsProfessor Edward Altman’s Outlook on High-Yield Bond Markets
Van Eck Global invites Professor Edward Altman to speak with Fran Rodilosso, Senior Investment Officer, about his outlook on high-yield bond markets. High Yield: 1:08 New Issuance: 3:51 Interest Rates: 6:19 Default Rates: 7:30 Outlook and Conclusion: 10:28 Edward Altman is a Professor of Finance at the NYU Stern School of Business and a leading authority on high yield, distressed debt, and credit risk analysis. Professor Altman’s 2015 forecast for default rates is about 2.5% unless there are any extraneous or exogenous shocks. "Beyond that I think all bets are off because the fundamentals do not look good, with the possible exception of lowe -
4:18How Will Higher Interest Rates Affect High Yield Bonds?
How Will Higher Interest Rates Affect High Yield Bonds?How Will Higher Interest Rates Affect High Yield Bonds?
May 28 -- Franklin Templeton Fixed Income Group Senior Vice President Eric Takaha discusses the bond markets. He speaks on “Market Makers.” -
4:18Short Term High Yield Bonds
Short Term High Yield BondsShort Term High Yield Bonds
The current low interest rate environment means that bond investors have to take more risk in order to gain an attractive return on their invested money. The... -
3:03What is a high yield bond?
What is a high yield bond?What is a high yield bond?
When is "junk" valuable? When there's high yield to be had, of course. Paddy Hirsch explains this potentially riskier, potentially more rewarding end of the bond market, which has famously backed many of the biggest leveraged buyouts and aggressive M&A; deals ever undertaken. For more news, analysis, and trends on the high yield bond market check out http://www.highyieldbond.com, a free site powered by S&P; Capital IQ/LCD to promote the asset class. You can also check out http://www.leveragedloan.com for news and analysis on that market, and LCD's Leveraged Loan Market Primer/Almanac, a free guide detailing quarterly market and historical t -
2:28BloombergTV - High-Yield Bonds Make A Terrible Investment
BloombergTV - High-Yield Bonds Make A Terrible InvestmentBloombergTV - High-Yield Bonds Make A Terrible Investment
In my second segment from BloombergTV, find out why I hate high-yield bonds! The key to investing success is to use fixed income to manage volatility, not to... -
5:312015 High Yield Bond Market Outlook
2015 High Yield Bond Market Outlook2015 High Yield Bond Market Outlook
The high yield market has lost its ability to appropriately price risk, and investors will need to cast a wider net to look for opportunities globally. Learn more in this video and explore additional insights at www.troweprice.com -
20:40How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks. The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked by the 1982 acquisition of Gibson Greetings and ending just over a decade later was cha -
12:12How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988) Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks. The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked -
20:40How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988
How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988
-
3:25Make Money From the Coming Collapse in High Yield Bonds
Make Money From the Coming Collapse in High Yield BondsMake Money From the Coming Collapse in High Yield Bonds
A default wave will soon be hitting high yield bonds and investors better be prepared for it, says Steve Blumenthal, CEO of CMG Capital. Still, Blumenthal says there is a bright side to the coming washout in junk bonds. 'The good news is that the selloff will create one of the greatest buying opportunities of a lifetime in the not too distant future. Remember the 20% yields on high yield bonds in 2008? My two cents is that the coming opportunity will be even better,' says Blumenthal. Blumenthal says tactical trend analysis enables investors to identify the primary movements in high yield bonds. His strategy is to stay invested during the up t -
7:31Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334
Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334
Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds. Prior to the horrific collapse of stocks in 2008, high yield debt collapsed first. And as you will see below, high yield debt is starting to crash again. The primary reason for this is the price of oil. The energy sector accounts for approximately 15 to 20 percent of the entire junk bond market, and those energy bonds are taking a tremendous beating right now. This panic in energy bonds is infecting the broader high yield debt market, and investors have been pulling money out at a frightening pace. And as I have written about previously -
4:31Fridson Likes High-Yield Debt More Than Stocks in 2012
Fridson Likes High-Yield Debt More Than Stocks in 2012Fridson Likes High-Yield Debt More Than Stocks in 2012
Dec. 23 (Bloomberg) -- Martin Fridson, global credit strategist at BNP Paribas Investment Partners, talks about the outlook for high-yield debt. He speaks wi... -
0:39Stock Trading for Beginners: High Yield Debt Junk Bonds
Stock Trading for Beginners: High Yield Debt Junk BondsStock Trading for Beginners: High Yield Debt Junk Bonds
http://www.guerillastocktrading.com/stock-trading/swing-trading-with-junk-bonds/ If you are new to stock trading you may not have heard about the importance of using junk bonds as a leading indicator. In this video, I chart high yield debt and you can see how awesome junk bonds lead the S&P; 500. This is an excerpt from this week's show. -
5:12Emerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate Decision
Emerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate DecisionEmerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate Decision
A potential rate hike by the Fed has hampered investor appetite for risky assets, such as emerging markets and high-yield debt. Moreover, we’ve seen bond spreads widen, downgrades, negative bias, defaults, rising capital outflows, and emerging market currencies depreciate as the September meeting nears. In this CreditMatters TV segment, Associate Director Sarab Sekhon discusses the impact of the rate hike on risk assets.
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-
Professor Edward Altman’s Outlook on High-Yield Bond Markets
Van Eck Global invites Professor Edward Altman to speak with Fran Rodilosso, Senior Investment Officer, about his outlook on high-yield bond markets. High Yield: 1:08 New Issuance: 3:51 Interest Rates: 6:19 Default Rates: 7:30 Outlook and Conclusion: 10:28 Edward Altman is a Professor of Finance at the NYU Stern School of Business and a leading authority on high yield, distressed debt, and credit -
How Will Higher Interest Rates Affect High Yield Bonds?
May 28 -- Franklin Templeton Fixed Income Group Senior Vice President Eric Takaha discusses the bond markets. He speaks on “Market Makers.” -
Short Term High Yield Bonds
The current low interest rate environment means that bond investors have to take more risk in order to gain an attractive return on their invested money. The... -
What is a high yield bond?
When is "junk" valuable? When there's high yield to be had, of course. Paddy Hirsch explains this potentially riskier, potentially more rewarding end of the bond market, which has famously backed many of the biggest leveraged buyouts and aggressive M&A; deals ever undertaken. For more news, analysis, and trends on the high yield bond market check out http://www.highyieldbond.com, a free site powe -
BloombergTV - High-Yield Bonds Make A Terrible Investment
In my second segment from BloombergTV, find out why I hate high-yield bonds! The key to investing success is to use fixed income to manage volatility, not to... -
2015 High Yield Bond Market Outlook
The high yield market has lost its ability to appropriately price risk, and investors will need to cast a wider net to look for opportunities globally. Learn more in this video and explore additional insights at www.troweprice.com -
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks. The development of the private equity and venture capital asset classes has occurred through a series of b -
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988) Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks. The development of -
How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988
-
Make Money From the Coming Collapse in High Yield Bonds
A default wave will soon be hitting high yield bonds and investors better be prepared for it, says Steve Blumenthal, CEO of CMG Capital. Still, Blumenthal says there is a bright side to the coming washout in junk bonds. 'The good news is that the selloff will create one of the greatest buying opportunities of a lifetime in the not too distant future. Remember the 20% yields on high yield bonds in -
Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334
Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds. Prior to the horrific collapse of stocks in 2008, high yield debt collapsed first. And as you will see below, high yield debt is starting to crash again. The primary reason for this is the price of oil. The energy sector accounts for approximately 15 to 20 percent of the entire junk bond marke -
Fridson Likes High-Yield Debt More Than Stocks in 2012
Dec. 23 (Bloomberg) -- Martin Fridson, global credit strategist at BNP Paribas Investment Partners, talks about the outlook for high-yield debt. He speaks wi... -
Stock Trading for Beginners: High Yield Debt Junk Bonds
http://www.guerillastocktrading.com/stock-trading/swing-trading-with-junk-bonds/ If you are new to stock trading you may not have heard about the importance of using junk bonds as a leading indicator. In this video, I chart high yield debt and you can see how awesome junk bonds lead the S&P; 500. This is an excerpt from this week's show. -
Emerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate Decision
A potential rate hike by the Fed has hampered investor appetite for risky assets, such as emerging markets and high-yield debt. Moreover, we’ve seen bond spreads widen, downgrades, negative bias, defaults, rising capital outflows, and emerging market currencies depreciate as the September meeting nears. In this CreditMatters TV segment, Associate Director Sarab Sekhon discusses the impact of the r -
Junk bond expert Marty Fridson says he thinks high-yield debt is extremely overvalued r...
JUNK BOND EXPERT MARTY FRIDSON SAYS HE THINKS HIGH-YIELD DEBT IS EXTREMELY OVERVALUED RIGHT NOW. ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: You point out t... -
T/A on USD High Yield Debt
Orange Alert on USD High Yield Debt Index. Nils Baranger, Founder, ChartGuidance. You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#162014 Смотрите Dukascopy TV на вашем языке: http://www.youtube.com/user/dukascopytvrussian 用您的语言观看杜高斯贝电视: http://www.youtube.com/user/dukascopytvchinese Miren Dukascopy TV en su idioma: http://www.youtube.c -
High-Yield Debt Investment Strategy
Nov. 8 (Bloomberg) -- James Keenan, managing director at BlackRock Inc., talks about investment strategy in high-yield debt and the implications of the Volck... -
debt consolidation credit counseling high yield savings accounts
high yield savings accounts online savings account rates high yield savings account rates best account for saving money best online savings account rates bes... -
What is a junk bond?
Junk. Not a nice word. And when it comes to bonds, not a particularly accurate word, either. Junk is something useless, right? Something you want to toss in ... -
LeBas Sees Risk `Creeping Up' in High-Yield Debt Market
Nov. 10 (Bloomberg) -- Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC, discusses the high-yield corporate bond market. LeBas, speaki... -
Zafran Says Look to Buy High-Yield Bonds on `Weakness' (Video)
Oct. 31 (Bloomberg) -- Alan Zafran, co-founder of Luminous Capital LLC, talks about his firm's real estate and high-yield debt investment strategies. He spea... -
Eugene Flood Sees Opportunity in U.S. High-Yield Debt
June 29 (Bloomberg) -- Eugene Flood, executive vice president of diversified financial services at TIAA-CREF, discusses Greek lawmakers' vote on austerity me... -
High-Yield Emerging Market Debt Favored by JPMorgan
March 29 (Bloomberg) -- Daniel Morris, global strategist at JPMorgan Asset Management, discusses bonds, equities, oil and China. He talks with Mark Barton on...
Professor Edward Altman’s Outlook on High-Yield Bond Markets
- Order: Reorder
- Duration: 12:21
- Updated: 05 Jan 2015
- views: 140
Van Eck Global invites Professor Edward Altman to speak with Fran Rodilosso, Senior Investment Officer, about his outlook on high-yield bond markets.
High Yield...
Van Eck Global invites Professor Edward Altman to speak with Fran Rodilosso, Senior Investment Officer, about his outlook on high-yield bond markets.
High Yield: 1:08
New Issuance: 3:51
Interest Rates: 6:19
Default Rates: 7:30
Outlook and Conclusion: 10:28
Edward Altman is a Professor of Finance at the NYU Stern School of Business and a leading authority on high yield, distressed debt, and credit risk analysis. Professor Altman’s 2015 forecast for default rates is about 2.5% unless there are any extraneous or exogenous shocks. "Beyond that I think all bets are off because the fundamentals do not look good, with the possible exception of lower interest rates."
Learn more: http://www.vaneck.com
wn.com/Professor Edward Altman’S Outlook On High Yield Bond Markets
Van Eck Global invites Professor Edward Altman to speak with Fran Rodilosso, Senior Investment Officer, about his outlook on high-yield bond markets.
High Yield: 1:08
New Issuance: 3:51
Interest Rates: 6:19
Default Rates: 7:30
Outlook and Conclusion: 10:28
Edward Altman is a Professor of Finance at the NYU Stern School of Business and a leading authority on high yield, distressed debt, and credit risk analysis. Professor Altman’s 2015 forecast for default rates is about 2.5% unless there are any extraneous or exogenous shocks. "Beyond that I think all bets are off because the fundamentals do not look good, with the possible exception of lower interest rates."
Learn more: http://www.vaneck.com
- published: 05 Jan 2015
- views: 140
How Will Higher Interest Rates Affect High Yield Bonds?
- Order: Reorder
- Duration: 4:18
- Updated: 28 May 2015
- views: 26
May 28 -- Franklin Templeton Fixed Income Group Senior Vice President Eric Takaha discusses the bond markets. He speaks on “Market Makers.”...
May 28 -- Franklin Templeton Fixed Income Group Senior Vice President Eric Takaha discusses the bond markets. He speaks on “Market Makers.”
wn.com/How Will Higher Interest Rates Affect High Yield Bonds
May 28 -- Franklin Templeton Fixed Income Group Senior Vice President Eric Takaha discusses the bond markets. He speaks on “Market Makers.”
- published: 28 May 2015
- views: 26
Short Term High Yield Bonds
The current low interest rate environment means that bond investors have to take more risk in order to gain an attractive return on their invested money. The......
The current low interest rate environment means that bond investors have to take more risk in order to gain an attractive return on their invested money. The...
wn.com/Short Term High Yield Bonds
The current low interest rate environment means that bond investors have to take more risk in order to gain an attractive return on their invested money. The...
- published: 03 Sep 2013
- views: 500
- author: hubbis
What is a high yield bond?
- Order: Reorder
- Duration: 3:03
- Updated: 23 Jun 2015
- views: 301
When is "junk" valuable? When there's high yield to be had, of course.
Paddy Hirsch explains this potentially riskier, potentially more rewarding end of the bo...
When is "junk" valuable? When there's high yield to be had, of course.
Paddy Hirsch explains this potentially riskier, potentially more rewarding end of the bond market, which has famously backed many of the biggest leveraged buyouts and aggressive M&A; deals ever undertaken.
For more news, analysis, and trends on the high yield bond market check out http://www.highyieldbond.com, a free site powered by S&P; Capital IQ/LCD to promote the asset class.
You can also check out http://www.leveragedloan.com for news and analysis on that market, and LCD's Leveraged Loan Market Primer/Almanac, a free guide detailing quarterly market and historical trends, as well as market mechanics. http://http://www.leveragedloan.com/primer/
Follow LCD
Twitter
http://www.twitter.com/lcdnews
Facebook
https://www.facebook.com/lcdcomps
LinkedIn
https://www.linkedin.com/grp/home?gid=2092432
Follow Paddy Hirsch
http://www.twitter.com/paddyhirsch
wn.com/What Is A High Yield Bond
When is "junk" valuable? When there's high yield to be had, of course.
Paddy Hirsch explains this potentially riskier, potentially more rewarding end of the bond market, which has famously backed many of the biggest leveraged buyouts and aggressive M&A; deals ever undertaken.
For more news, analysis, and trends on the high yield bond market check out http://www.highyieldbond.com, a free site powered by S&P; Capital IQ/LCD to promote the asset class.
You can also check out http://www.leveragedloan.com for news and analysis on that market, and LCD's Leveraged Loan Market Primer/Almanac, a free guide detailing quarterly market and historical trends, as well as market mechanics. http://http://www.leveragedloan.com/primer/
Follow LCD
Twitter
http://www.twitter.com/lcdnews
Facebook
https://www.facebook.com/lcdcomps
LinkedIn
https://www.linkedin.com/grp/home?gid=2092432
Follow Paddy Hirsch
http://www.twitter.com/paddyhirsch
- published: 23 Jun 2015
- views: 301
BloombergTV - High-Yield Bonds Make A Terrible Investment
- Order: Reorder
- Duration: 2:28
- Updated: 30 Aug 2014
- views: 828
- author: Matson Money
In my second segment from BloombergTV, find out why I hate high-yield bonds! The key to investing success is to use fixed income to manage volatility, not to......
In my second segment from BloombergTV, find out why I hate high-yield bonds! The key to investing success is to use fixed income to manage volatility, not to...
wn.com/Bloombergtv High Yield Bonds Make A Terrible Investment
In my second segment from BloombergTV, find out why I hate high-yield bonds! The key to investing success is to use fixed income to manage volatility, not to...
- published: 13 Mar 2012
- views: 828
- author: Matson Money
2015 High Yield Bond Market Outlook
- Order: Reorder
- Duration: 5:31
- Updated: 08 Jan 2015
- views: 18
The high yield market has lost its ability to appropriately price risk, and investors will need to cast a wider net to look for opportunities globally. Learn mo...
The high yield market has lost its ability to appropriately price risk, and investors will need to cast a wider net to look for opportunities globally. Learn more in this video and explore additional insights at www.troweprice.com
wn.com/2015 High Yield Bond Market Outlook
The high yield market has lost its ability to appropriately price risk, and investors will need to cast a wider net to look for opportunities globally. Learn more in this video and explore additional insights at www.troweprice.com
- published: 08 Jan 2015
- views: 18
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
- Order: Reorder
- Duration: 20:40
- Updated: 15 Dec 2014
- views: 8
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry...
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.
The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked by the 1982 acquisition of Gibson Greetings and ending just over a decade later was characterized by a dramatic surge in leveraged buyout (LBO) activity financed by junk bonds. The period culminated in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout industry in the late 1980s and early 1990s marked by the collapse of Drexel Burnham Lambert and the high-yield debt market.
Although the "corporate raider" moniker is rarely applied to contemporary private equity investors, there is no formal distinction between a "corporate raid" and other private equity investments acquisitions of existing businesses. The label was typically ascribed by constituencies within the acquired company or the media. However, a corporate raid would typically feature a leveraged buyout that would involve a hostile takeover of the company, perceived asset stripping, major layoffs or other significant corporate restructuring activities. Management of many large publicly traded corporations reacted negatively to the threat of potential hostile takeover or corporate raid and pursued drastic defensive measures including poison pills, golden parachutes and increasing debt levels on the company's balance sheet. Additionally, the threat of the corporate raid would lead to the practice of "greenmail", where a corporate raider or other party would acquire a significant stake in the stock of a company and receive an incentive payment (effectively a bribe) from the company in order to avoid pursuing a hostile takeover of the company. Greenmail represented a transfer payment from a company's existing shareholders to a third party investor and provided no value to existing shareholders but did benefit existing managers. The practice of "greenmail" is not typically considered a tactic of private equity investors and is not condoned by market participants.
Among the most notable corporate raiders of the 1980s included Carl Icahn, Victor Posner, Nelson Peltz, Robert M. Bass, T. Boone Pickens, Harold Clark Simmons, Kirk Kerkorian, Sir James Goldsmith, Saul Steinberg and Asher Edelman. Carl Icahn developed a reputation as a ruthless corporate raider after his hostile takeover of TWA in 1985.[28] The result of that takeover was Icahn systematically selling TWA's assets to repay the debt he used to purchase the company, which was described as asset stripping.[29] In later years, many of the corporate raiders would be re-characterized as "Activist shareholders".
Many of the corporate raiders were onetime clients of Michael Milken, whose investment banking firm, Drexel Burnham Lambert helped raise blind pools of capital with which corporate raiders could make a legitimate attempt to takeover a company and provided high-yield debt financing of the buyouts.
Drexel Burnham raised a $100 million blind pool in 1984 for Nelson Peltz and his holding company Triangle Industries (later Triarc) to give credibility for takeovers, representing the first major blind pool raised for this purpose. Two years later, in 1986, Wickes Companies, a holding company run by Sanford Sigoloff would raise a $1.2 billion blind pool.[30]
In 1985, Milken raised a $750 million for a similar blind pool for Ronald Perelman which would ultimate prove instrumental in acquiring his biggest target: The Revlon Corporation. In 1980, Ronald Perelman, the son of a wealthy Philadelphia businessman, and future "corporate raider" having made several small but successful buyouts, acquired MacAndrews & Forbes, a distributor of licorice extract and chocolate, that Perelman's father had tried and failed to acquire it 10 years earlier.[31] Perelman would ultimately divest the company's core business and use MacAndrews & Forbes as a holding company investment vehicle for subsequent leveraged buyouts including Technicolor, Inc., Pantry Pride and Revlon.
http://en.wikipedia.org/wiki/Private_equity_in_the_1980s
wn.com/How Corrupt Are Securities Markets The High Yield Debt Market Private Equity (1988)
Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks.
The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked by the 1982 acquisition of Gibson Greetings and ending just over a decade later was characterized by a dramatic surge in leveraged buyout (LBO) activity financed by junk bonds. The period culminated in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout industry in the late 1980s and early 1990s marked by the collapse of Drexel Burnham Lambert and the high-yield debt market.
Although the "corporate raider" moniker is rarely applied to contemporary private equity investors, there is no formal distinction between a "corporate raid" and other private equity investments acquisitions of existing businesses. The label was typically ascribed by constituencies within the acquired company or the media. However, a corporate raid would typically feature a leveraged buyout that would involve a hostile takeover of the company, perceived asset stripping, major layoffs or other significant corporate restructuring activities. Management of many large publicly traded corporations reacted negatively to the threat of potential hostile takeover or corporate raid and pursued drastic defensive measures including poison pills, golden parachutes and increasing debt levels on the company's balance sheet. Additionally, the threat of the corporate raid would lead to the practice of "greenmail", where a corporate raider or other party would acquire a significant stake in the stock of a company and receive an incentive payment (effectively a bribe) from the company in order to avoid pursuing a hostile takeover of the company. Greenmail represented a transfer payment from a company's existing shareholders to a third party investor and provided no value to existing shareholders but did benefit existing managers. The practice of "greenmail" is not typically considered a tactic of private equity investors and is not condoned by market participants.
Among the most notable corporate raiders of the 1980s included Carl Icahn, Victor Posner, Nelson Peltz, Robert M. Bass, T. Boone Pickens, Harold Clark Simmons, Kirk Kerkorian, Sir James Goldsmith, Saul Steinberg and Asher Edelman. Carl Icahn developed a reputation as a ruthless corporate raider after his hostile takeover of TWA in 1985.[28] The result of that takeover was Icahn systematically selling TWA's assets to repay the debt he used to purchase the company, which was described as asset stripping.[29] In later years, many of the corporate raiders would be re-characterized as "Activist shareholders".
Many of the corporate raiders were onetime clients of Michael Milken, whose investment banking firm, Drexel Burnham Lambert helped raise blind pools of capital with which corporate raiders could make a legitimate attempt to takeover a company and provided high-yield debt financing of the buyouts.
Drexel Burnham raised a $100 million blind pool in 1984 for Nelson Peltz and his holding company Triangle Industries (later Triarc) to give credibility for takeovers, representing the first major blind pool raised for this purpose. Two years later, in 1986, Wickes Companies, a holding company run by Sanford Sigoloff would raise a $1.2 billion blind pool.[30]
In 1985, Milken raised a $750 million for a similar blind pool for Ronald Perelman which would ultimate prove instrumental in acquiring his biggest target: The Revlon Corporation. In 1980, Ronald Perelman, the son of a wealthy Philadelphia businessman, and future "corporate raider" having made several small but successful buyouts, acquired MacAndrews & Forbes, a distributor of licorice extract and chocolate, that Perelman's father had tried and failed to acquire it 10 years earlier.[31] Perelman would ultimately divest the company's core business and use MacAndrews & Forbes as a holding company investment vehicle for subsequent leveraged buyouts including Technicolor, Inc., Pantry Pride and Revlon.
http://en.wikipedia.org/wiki/Private_equity_in_the_1980s
- published: 15 Dec 2014
- views: 8
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
- Order: Reorder
- Duration: 12:12
- Updated: 03 Mar 2015
- views: 0
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988) Private equity in the 1980s relates to one of the major periods in the hi...
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988) Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks. The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked by the 1982 acquisition of Gibson Greetings and ending just over a decade later was characterized by a dramatic surge in leveraged buyout (LBO) activity financed by junk bonds. The period culminated in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout industry in the late 1980s and early 1990s marked by the collapse of Drexel Burnham Lambert and the high-yield debt market. Although the corporate raider moniker is rarely applied to contemporary private equity investors, there is no formal distinction between a corporate raid and other private equity investments acquisitions of existing businesses. The label was typically ascribed by constituencies within the acquired company or the media. However, a corporate raid would typically feature a leveraged buyout that would involve a hostile takeover of the company, perceived asset stripping, major layoffs or other significant corporate restructuring activities. Management of many large publicly traded corporations reacted negatively to the threat of potential hostile takeover or corporate raid and pursued drastic defensive measures including poison pills, golden parachutes and increasing debt levels on the company's balance sheet. Additionally, the threat of the corporate raid would lead to the practice of greenmail, where a corporate raider or other party would acquire a significant stake in the stock of a company and receive an incentive payment (effectively a bribe) from the company in order to avoid pursuing a hostile takeover of the company. Greenmail represented a transfer payment from a company's existing shareholders to a third party investor and provided no value to existing shareholders but did benefit existing managers. The practice of greenmail is not typically considered a tactic of private equity investors and is not condoned by market participants. Among the most notable corporate raiders of the 1980s included Carl Icahn, Victor Posner, Nelson Peltz, Robert M. Bass, T. Boone Pickens, Harold Clark Simmons, Kirk Kerkorian, Sir James Goldsmith, Saul Steinberg and Asher Edelman. Carl Icahn developed a reputation as a ruthless corporate raider after his hostile takeover of TWA in 1985.[28] The result of that takeover was Icahn systematically selling TWA's assets to repay the debt he used to purchase the company, which was described as asset stripping.[29] In later years, many of the corporate raiders would be re-characterized as Activist shareholders. Many of the corporate raiders were onetime clients of Michael Milken, whose investment banking firm, Drexel Burnham Lambert helped raise blind pools of capital with which corporate raiders could make a legitimate attempt to takeover a company and provided high-yield debt financing of the buyouts. Drexel Burnham raised a $100 million blind pool in 1984 for Nelson Peltz and his holding company Triangle Industries (later Triarc) to give credibility for takeovers, representing the first major blind pool raised for this purpose. Two years later, in 1986, Wickes Companies, a holding company run by Sanford Sigoloff would raise a $1.2 billion blind pool.[30] In 1985, Milken raised a $750 million for a similar blind pool for Ronald Perelman which would ultimate prove instrumental in acquiring his biggest target: The Revlon Corporation. In 1980, Ronald Perelman, the son of a wealthy Philadelphia businessman, and future corporate raider having made several small but successful buyouts, acquired MacAndrews & Forbes, a distributor of licorice extract and chocolate, that Perelman's father had tried and failed to acquire it 10 years earlier.[31] Perelman would ultimately divest the company's core business and use MacAndrews & Forbes as a holding company investment vehicle for subsequent leveraged buyouts including Technicolor, Inc., Pantry Pride and Revlon.
wn.com/How Corrupt Are Securities Markets The High Yield Debt Market Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988) Private equity in the 1980s relates to one of the major periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital experienced growth along parallel although interrelated tracks. The development of the private equity and venture capital asset classes has occurred through a series of boom and bust cycles since the middle of the 20th century. The 1980s saw the first major boom and bust cycle in private equity. The cycle which is typically marked by the 1982 acquisition of Gibson Greetings and ending just over a decade later was characterized by a dramatic surge in leveraged buyout (LBO) activity financed by junk bonds. The period culminated in the massive buyout of RJR Nabisco before the near collapse of the leveraged buyout industry in the late 1980s and early 1990s marked by the collapse of Drexel Burnham Lambert and the high-yield debt market. Although the corporate raider moniker is rarely applied to contemporary private equity investors, there is no formal distinction between a corporate raid and other private equity investments acquisitions of existing businesses. The label was typically ascribed by constituencies within the acquired company or the media. However, a corporate raid would typically feature a leveraged buyout that would involve a hostile takeover of the company, perceived asset stripping, major layoffs or other significant corporate restructuring activities. Management of many large publicly traded corporations reacted negatively to the threat of potential hostile takeover or corporate raid and pursued drastic defensive measures including poison pills, golden parachutes and increasing debt levels on the company's balance sheet. Additionally, the threat of the corporate raid would lead to the practice of greenmail, where a corporate raider or other party would acquire a significant stake in the stock of a company and receive an incentive payment (effectively a bribe) from the company in order to avoid pursuing a hostile takeover of the company. Greenmail represented a transfer payment from a company's existing shareholders to a third party investor and provided no value to existing shareholders but did benefit existing managers. The practice of greenmail is not typically considered a tactic of private equity investors and is not condoned by market participants. Among the most notable corporate raiders of the 1980s included Carl Icahn, Victor Posner, Nelson Peltz, Robert M. Bass, T. Boone Pickens, Harold Clark Simmons, Kirk Kerkorian, Sir James Goldsmith, Saul Steinberg and Asher Edelman. Carl Icahn developed a reputation as a ruthless corporate raider after his hostile takeover of TWA in 1985.[28] The result of that takeover was Icahn systematically selling TWA's assets to repay the debt he used to purchase the company, which was described as asset stripping.[29] In later years, many of the corporate raiders would be re-characterized as Activist shareholders. Many of the corporate raiders were onetime clients of Michael Milken, whose investment banking firm, Drexel Burnham Lambert helped raise blind pools of capital with which corporate raiders could make a legitimate attempt to takeover a company and provided high-yield debt financing of the buyouts. Drexel Burnham raised a $100 million blind pool in 1984 for Nelson Peltz and his holding company Triangle Industries (later Triarc) to give credibility for takeovers, representing the first major blind pool raised for this purpose. Two years later, in 1986, Wickes Companies, a holding company run by Sanford Sigoloff would raise a $1.2 billion blind pool.[30] In 1985, Milken raised a $750 million for a similar blind pool for Ronald Perelman which would ultimate prove instrumental in acquiring his biggest target: The Revlon Corporation. In 1980, Ronald Perelman, the son of a wealthy Philadelphia businessman, and future corporate raider having made several small but successful buyouts, acquired MacAndrews & Forbes, a distributor of licorice extract and chocolate, that Perelman's father had tried and failed to acquire it 10 years earlier.[31] Perelman would ultimately divest the company's core business and use MacAndrews & Forbes as a holding company investment vehicle for subsequent leveraged buyouts including Technicolor, Inc., Pantry Pride and Revlon.
- published: 03 Mar 2015
- views: 0
How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988
- Order: Reorder
- Duration: 20:40
- Updated: 16 Apr 2015
- views: 1
...
wn.com/How Corrupt Are Securities Markets The High Yield Debt Market Private Equity 1988
- published: 16 Apr 2015
- views: 1
Make Money From the Coming Collapse in High Yield Bonds
- Order: Reorder
- Duration: 3:25
- Updated: 26 May 2015
- views: 38
A default wave will soon be hitting high yield bonds and investors better be prepared for it, says Steve Blumenthal, CEO of CMG Capital. Still, Blumenthal says ...
A default wave will soon be hitting high yield bonds and investors better be prepared for it, says Steve Blumenthal, CEO of CMG Capital. Still, Blumenthal says there is a bright side to the coming washout in junk bonds. 'The good news is that the selloff will create one of the greatest buying opportunities of a lifetime in the not too distant future. Remember the 20% yields on high yield bonds in 2008? My two cents is that the coming opportunity will be even better,' says Blumenthal. Blumenthal says tactical trend analysis enables investors to identify the primary movements in high yield bonds. His strategy is to stay invested during the up trending cycles and shorten maturities when the trend turns down. In other words, buy the iShares iBoxx High Yield Corporate Bond ETF (HYG) or the SPDR Barclays High Yield Bond ETF (JNK) when trends are turning up.
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For more content from TheStreet visit: http://thestreet.com
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wn.com/Make Money From The Coming Collapse In High Yield Bonds
A default wave will soon be hitting high yield bonds and investors better be prepared for it, says Steve Blumenthal, CEO of CMG Capital. Still, Blumenthal says there is a bright side to the coming washout in junk bonds. 'The good news is that the selloff will create one of the greatest buying opportunities of a lifetime in the not too distant future. Remember the 20% yields on high yield bonds in 2008? My two cents is that the coming opportunity will be even better,' says Blumenthal. Blumenthal says tactical trend analysis enables investors to identify the primary movements in high yield bonds. His strategy is to stay invested during the up trending cycles and shorten maturities when the trend turns down. In other words, buy the iShares iBoxx High Yield Corporate Bond ETF (HYG) or the SPDR Barclays High Yield Bond ETF (JNK) when trends are turning up.
Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV
For more content from TheStreet visit: http://thestreet.com
Check out all our videos: http://youtube.com/user/TheStreetTV
Follow TheStreet on Twitter: http://twitter.com/thestreet
Like TheStreet on Facebook: http://facebook.com/TheStreet
Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet
Follow TheStreet on Google+: http://plus.google.com/+TheStreet
- published: 26 May 2015
- views: 38
Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334
- Order: Reorder
- Duration: 7:31
- Updated: 10 Jan 2015
- views: 537
Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds. Prior to the horrific collapse of stocks in 2008, high yi...
Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds. Prior to the horrific collapse of stocks in 2008, high yield debt collapsed first. And as you will see below, high yield debt is starting to crash again. The primary reason for this is the price of oil. The energy sector accounts for approximately 15 to 20 percent of the entire junk bond market, and those energy bonds are taking a tremendous beating right now. This panic in energy bonds is infecting the broader high yield debt market, and investors have been pulling money out at a frightening pace. And as I have written about previously, almost every single time junk bonds decline substantially, stocks end up following suit. So don’t be fooled by the fact that some comforting words from Janet Yellen caused stock prices to jump over the past couple of days. If you really want to know where the stock market is heading in 2015, keep a close eye on the market for high yield debt.
If you are not familiar with junk bonds, the concept is actually very simple. Corporations that do not have high credit ratings typically have to pay higher interest rates to borrow money. The following is how USA Today describes these bonds…
High-yield bonds are long-term IOUs issued by companies with shaky credit ratings. Just like credit card users, companies with poor credit must pay higher interest rates on loans than those with gold-plated credit histories.
But in recent years, interest rates on junk bonds have gone down to ridiculously low levels. This is another bubble that was created by Federal Reserve policies, and it is a colossal disaster waiting to happen. And unfortunately, there are already signs that this bubble is now beginning to burst…
Back in June, the average junk bond yield was 3.90 percentage points higher than Treasury securities. The average energy junk bond yielded 3.91 percentage points higher than Treasuries, Lonski says.
That spread has widened to 5.08 percentage points for junk bonds vs. 7.86 percentage points for energy bonds — an indication of how worried investors are about default, particularly for small, highly indebted companies in the fracking business.
The reason why so many analysts are becoming extremely concerned about this shift in junk bonds is because we also saw this happen just before the great stock market crash of 2008. In the chart below, you can see how yields on junk bonds started to absolutely skyrocket in September of that year…
Of course we have not seen a move of that magnitude quite yet this year, but without a doubt yields have been spiking. The next chart that I want to share is of this year. As you can see, the movement over the past month or so has been quite substantial…
And of course I am far from the only one that is watching this. In fact, there are some sharks on Wall Street that plan to make an absolute boatload of cash as high yield bonds crash.
One of them is Josh Birnbaum. He correctly made a giant bet against subprime mortgages in 2007, and now he is making a giant bet against junk bonds…
When Josh Birnbaum was at Goldman Sachs in 2007, he made a huge bet against subprime mortgages.
Now he’s betting against something else: high-yield bonds.
From The Wall Street Journal:
Joshua Birnbaum, the ex-Goldman Sachs Group Inc. trader who made bets against subprime mortgages during the financial crisis, now has more than $2 billion in wagers against high-yield bonds at his Tilden Park Capital Management LP hedge-fund firm, according to investor documents.
Could you imagine betting 2 billion dollars on anything?
If he is right, he is going to make an incredible amount of money.
And I have a feeling that he will be. As a recent New American article detailed, there is already panic in the air…
It’s a mania, said Tim Gramatovich of Peritus Asset Management who oversees a bond portfolio of $800 million: “Anything that becomes a mania — ends badly. And this is a mania.”
Bill Gross, who used to run PIMCO’s gigantic bond portfolio and now advises the Janus Capital Group, explained that “there’s very little liquidity” in junk bonds. This is the language a bond fund manager uses to tell people that no one is buying, everyone is selling. Gross added: “Everyone is trying to squeeze through a very small door.”
Bonds issued by individual energy developers have gotten hammered. For instance, Energy XXI, an oil and gas producer, issued more than $2 billion in bonds just in the last four years and, up until a couple of weeks ago, they were selling at 100 cents on the dollar. On Friday buyers were offering just 64 cents. Midstates Petroleum’s $700 million in bonds — rated “junk” by both Moody’s and Standard and Poor’s — are selling at 54 cents on the dollar, if buyers can be found.
wn.com/Junk Bonds Where The Stock Market Is Heading In 2015 Rob Neal 602 295 2334
Do you want to know if the stock market is going to crash next year? Just keep an eye on junk bonds. Prior to the horrific collapse of stocks in 2008, high yield debt collapsed first. And as you will see below, high yield debt is starting to crash again. The primary reason for this is the price of oil. The energy sector accounts for approximately 15 to 20 percent of the entire junk bond market, and those energy bonds are taking a tremendous beating right now. This panic in energy bonds is infecting the broader high yield debt market, and investors have been pulling money out at a frightening pace. And as I have written about previously, almost every single time junk bonds decline substantially, stocks end up following suit. So don’t be fooled by the fact that some comforting words from Janet Yellen caused stock prices to jump over the past couple of days. If you really want to know where the stock market is heading in 2015, keep a close eye on the market for high yield debt.
If you are not familiar with junk bonds, the concept is actually very simple. Corporations that do not have high credit ratings typically have to pay higher interest rates to borrow money. The following is how USA Today describes these bonds…
High-yield bonds are long-term IOUs issued by companies with shaky credit ratings. Just like credit card users, companies with poor credit must pay higher interest rates on loans than those with gold-plated credit histories.
But in recent years, interest rates on junk bonds have gone down to ridiculously low levels. This is another bubble that was created by Federal Reserve policies, and it is a colossal disaster waiting to happen. And unfortunately, there are already signs that this bubble is now beginning to burst…
Back in June, the average junk bond yield was 3.90 percentage points higher than Treasury securities. The average energy junk bond yielded 3.91 percentage points higher than Treasuries, Lonski says.
That spread has widened to 5.08 percentage points for junk bonds vs. 7.86 percentage points for energy bonds — an indication of how worried investors are about default, particularly for small, highly indebted companies in the fracking business.
The reason why so many analysts are becoming extremely concerned about this shift in junk bonds is because we also saw this happen just before the great stock market crash of 2008. In the chart below, you can see how yields on junk bonds started to absolutely skyrocket in September of that year…
Of course we have not seen a move of that magnitude quite yet this year, but without a doubt yields have been spiking. The next chart that I want to share is of this year. As you can see, the movement over the past month or so has been quite substantial…
And of course I am far from the only one that is watching this. In fact, there are some sharks on Wall Street that plan to make an absolute boatload of cash as high yield bonds crash.
One of them is Josh Birnbaum. He correctly made a giant bet against subprime mortgages in 2007, and now he is making a giant bet against junk bonds…
When Josh Birnbaum was at Goldman Sachs in 2007, he made a huge bet against subprime mortgages.
Now he’s betting against something else: high-yield bonds.
From The Wall Street Journal:
Joshua Birnbaum, the ex-Goldman Sachs Group Inc. trader who made bets against subprime mortgages during the financial crisis, now has more than $2 billion in wagers against high-yield bonds at his Tilden Park Capital Management LP hedge-fund firm, according to investor documents.
Could you imagine betting 2 billion dollars on anything?
If he is right, he is going to make an incredible amount of money.
And I have a feeling that he will be. As a recent New American article detailed, there is already panic in the air…
It’s a mania, said Tim Gramatovich of Peritus Asset Management who oversees a bond portfolio of $800 million: “Anything that becomes a mania — ends badly. And this is a mania.”
Bill Gross, who used to run PIMCO’s gigantic bond portfolio and now advises the Janus Capital Group, explained that “there’s very little liquidity” in junk bonds. This is the language a bond fund manager uses to tell people that no one is buying, everyone is selling. Gross added: “Everyone is trying to squeeze through a very small door.”
Bonds issued by individual energy developers have gotten hammered. For instance, Energy XXI, an oil and gas producer, issued more than $2 billion in bonds just in the last four years and, up until a couple of weeks ago, they were selling at 100 cents on the dollar. On Friday buyers were offering just 64 cents. Midstates Petroleum’s $700 million in bonds — rated “junk” by both Moody’s and Standard and Poor’s — are selling at 54 cents on the dollar, if buyers can be found.
- published: 10 Jan 2015
- views: 537
Fridson Likes High-Yield Debt More Than Stocks in 2012
- Order: Reorder
- Duration: 4:31
- Updated: 02 Jul 2014
- views: 112
- author: Bloomberg News
Dec. 23 (Bloomberg) -- Martin Fridson, global credit strategist at BNP Paribas Investment Partners, talks about the outlook for high-yield debt. He speaks wi......
Dec. 23 (Bloomberg) -- Martin Fridson, global credit strategist at BNP Paribas Investment Partners, talks about the outlook for high-yield debt. He speaks wi...
wn.com/Fridson Likes High Yield Debt More Than Stocks In 2012
Dec. 23 (Bloomberg) -- Martin Fridson, global credit strategist at BNP Paribas Investment Partners, talks about the outlook for high-yield debt. He speaks wi...
- published: 23 Dec 2011
- views: 112
- author: Bloomberg News
Stock Trading for Beginners: High Yield Debt Junk Bonds
- Order: Reorder
- Duration: 0:39
- Updated: 09 Nov 2014
- views: 148
http://www.guerillastocktrading.com/stock-trading/swing-trading-with-junk-bonds/ If you are new to stock trading you may not have heard about the importance of ...
http://www.guerillastocktrading.com/stock-trading/swing-trading-with-junk-bonds/ If you are new to stock trading you may not have heard about the importance of using junk bonds as a leading indicator. In this video, I chart high yield debt and you can see how awesome junk bonds lead the S&P; 500. This is an excerpt from this week's show.
wn.com/Stock Trading For Beginners High Yield Debt Junk Bonds
http://www.guerillastocktrading.com/stock-trading/swing-trading-with-junk-bonds/ If you are new to stock trading you may not have heard about the importance of using junk bonds as a leading indicator. In this video, I chart high yield debt and you can see how awesome junk bonds lead the S&P; 500. This is an excerpt from this week's show.
- published: 09 Nov 2014
- views: 148
Emerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate Decision
- Order: Reorder
- Duration: 5:12
- Updated: 22 Sep 2015
- views: 0
A potential rate hike by the Fed has hampered investor appetite for risky assets, such as emerging markets and high-yield debt. Moreover, we’ve seen bond spread...
A potential rate hike by the Fed has hampered investor appetite for risky assets, such as emerging markets and high-yield debt. Moreover, we’ve seen bond spreads widen, downgrades, negative bias, defaults, rising capital outflows, and emerging market currencies depreciate as the September meeting nears. In this CreditMatters TV segment, Associate Director Sarab Sekhon discusses the impact of the rate hike on risk assets.
wn.com/Emerging Markets And High Yield Bonds Feel Pressured Ahead Of The Fed’S Rate Decision
A potential rate hike by the Fed has hampered investor appetite for risky assets, such as emerging markets and high-yield debt. Moreover, we’ve seen bond spreads widen, downgrades, negative bias, defaults, rising capital outflows, and emerging market currencies depreciate as the September meeting nears. In this CreditMatters TV segment, Associate Director Sarab Sekhon discusses the impact of the rate hike on risk assets.
- published: 22 Sep 2015
- views: 0
Junk bond expert Marty Fridson says he thinks high-yield debt is extremely overvalued r...
JUNK BOND EXPERT MARTY FRIDSON SAYS HE THINKS HIGH-YIELD DEBT IS EXTREMELY OVERVALUED RIGHT NOW. ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: You point out t......
JUNK BOND EXPERT MARTY FRIDSON SAYS HE THINKS HIGH-YIELD DEBT IS EXTREMELY OVERVALUED RIGHT NOW. ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: You point out t...
wn.com/Junk Bond Expert Marty Fridson Says He Thinks High Yield Debt Is Extremely Overvalued R...
JUNK BOND EXPERT MARTY FRIDSON SAYS HE THINKS HIGH-YIELD DEBT IS EXTREMELY OVERVALUED RIGHT NOW. ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: You point out t...
- published: 18 Jul 2014
- views: 49
- author: 838578
T/A on USD High Yield Debt
- Order: Reorder
- Duration: 4:08
- Updated: 10 Aug 2015
- views: 19
Orange Alert on USD High Yield Debt Index. Nils Baranger, Founder, ChartGuidance.
You can view this video and the full video archive on the Dukascopy TV page: ...
Orange Alert on USD High Yield Debt Index. Nils Baranger, Founder, ChartGuidance.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#162014
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wn.com/T A On USD High Yield Debt
Orange Alert on USD High Yield Debt Index. Nils Baranger, Founder, ChartGuidance.
You can view this video and the full video archive on the Dukascopy TV page: http://www.dukascopy.com/tv/en/#162014
Смотрите Dukascopy TV на вашем языке: http://www.youtube.com/user/dukascopytvrussian
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- published: 10 Aug 2015
- views: 19
High-Yield Debt Investment Strategy
- Order: Reorder
- Duration: 4:59
- Updated: 02 Jul 2014
- views: 170
- author: Bloomberg News
Nov. 8 (Bloomberg) -- James Keenan, managing director at BlackRock Inc., talks about investment strategy in high-yield debt and the implications of the Volck......
Nov. 8 (Bloomberg) -- James Keenan, managing director at BlackRock Inc., talks about investment strategy in high-yield debt and the implications of the Volck...
wn.com/High Yield Debt Investment Strategy
Nov. 8 (Bloomberg) -- James Keenan, managing director at BlackRock Inc., talks about investment strategy in high-yield debt and the implications of the Volck...
- published: 22 Nov 2011
- views: 170
- author: Bloomberg News
debt consolidation credit counseling high yield savings accounts
- Order: Reorder
- Duration: 0:14
- Updated: 30 Jan 2014
- views: 162
- author: Badoo Hiter
high yield savings accounts online savings account rates high yield savings account rates best account for saving money best online savings account rates bes......
high yield savings accounts online savings account rates high yield savings account rates best account for saving money best online savings account rates bes...
wn.com/Debt Consolidation Credit Counseling High Yield Savings Accounts
high yield savings accounts online savings account rates high yield savings account rates best account for saving money best online savings account rates bes...
- published: 04 Jan 2014
- views: 162
- author: Badoo Hiter
What is a junk bond?
- Order: Reorder
- Duration: 4:02
- Updated: 31 Aug 2014
- views: 10999
- author: APM Marketplace
Junk. Not a nice word. And when it comes to bonds, not a particularly accurate word, either. Junk is something useless, right? Something you want to toss in ......
Junk. Not a nice word. And when it comes to bonds, not a particularly accurate word, either. Junk is something useless, right? Something you want to toss in ...
wn.com/What Is A Junk Bond
Junk. Not a nice word. And when it comes to bonds, not a particularly accurate word, either. Junk is something useless, right? Something you want to toss in ...
- published: 16 Dec 2011
- views: 10999
- author: APM Marketplace
LeBas Sees Risk `Creeping Up' in High-Yield Debt Market
- Order: Reorder
- Duration: 3:55
- Updated: 02 Jul 2014
- views: 87
- author: Bloomberg News
Nov. 10 (Bloomberg) -- Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC, discusses the high-yield corporate bond market. LeBas, speaki......
Nov. 10 (Bloomberg) -- Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC, discusses the high-yield corporate bond market. LeBas, speaki...
wn.com/Lebas Sees Risk `Creeping Up' In High Yield Debt Market
Nov. 10 (Bloomberg) -- Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC, discusses the high-yield corporate bond market. LeBas, speaki...
- published: 23 Mar 2012
- views: 87
- author: Bloomberg News
Zafran Says Look to Buy High-Yield Bonds on `Weakness' (Video)
- Order: Reorder
- Duration: 4:32
- Updated: 02 Jul 2014
- views: 367
- author: Bloomberg News
Oct. 31 (Bloomberg) -- Alan Zafran, co-founder of Luminous Capital LLC, talks about his firm's real estate and high-yield debt investment strategies. He spea......
Oct. 31 (Bloomberg) -- Alan Zafran, co-founder of Luminous Capital LLC, talks about his firm's real estate and high-yield debt investment strategies. He spea...
wn.com/Zafran Says Look To Buy High Yield Bonds On `Weakness' (Video)
Oct. 31 (Bloomberg) -- Alan Zafran, co-founder of Luminous Capital LLC, talks about his firm's real estate and high-yield debt investment strategies. He spea...
- published: 31 Oct 2011
- views: 367
- author: Bloomberg News
Eugene Flood Sees Opportunity in U.S. High-Yield Debt
- Order: Reorder
- Duration: 3:23
- Updated: 02 Jul 2014
- views: 101
- author: Bloomberg News
June 29 (Bloomberg) -- Eugene Flood, executive vice president of diversified financial services at TIAA-CREF, discusses Greek lawmakers' vote on austerity me......
June 29 (Bloomberg) -- Eugene Flood, executive vice president of diversified financial services at TIAA-CREF, discusses Greek lawmakers' vote on austerity me...
wn.com/Eugene Flood Sees Opportunity In U.S. High Yield Debt
June 29 (Bloomberg) -- Eugene Flood, executive vice president of diversified financial services at TIAA-CREF, discusses Greek lawmakers' vote on austerity me...
- published: 29 Jun 2011
- views: 101
- author: Bloomberg News
High-Yield Emerging Market Debt Favored by JPMorgan
- Order: Reorder
- Duration: 5:35
- Updated: 02 Jul 2014
- views: 59
- author: Bloomberg News
March 29 (Bloomberg) -- Daniel Morris, global strategist at JPMorgan Asset Management, discusses bonds, equities, oil and China. He talks with Mark Barton on......
March 29 (Bloomberg) -- Daniel Morris, global strategist at JPMorgan Asset Management, discusses bonds, equities, oil and China. He talks with Mark Barton on...
wn.com/High Yield Emerging Market Debt Favored By Jpmorgan
March 29 (Bloomberg) -- Daniel Morris, global strategist at JPMorgan Asset Management, discusses bonds, equities, oil and China. He talks with Mark Barton on...
- published: 29 Mar 2012
- views: 59
- author: Bloomberg News
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12:21
Professor Edward Altman’s Outlook on High-Yield Bond Markets
Van Eck Global invites Professor Edward Altman to speak with Fran Rodilosso, Senior Invest...
published: 05 Jan 2015
Professor Edward Altman’s Outlook on High-Yield Bond Markets
Professor Edward Altman’s Outlook on High-Yield Bond Markets
- published: 05 Jan 2015
- views: 140
4:18
How Will Higher Interest Rates Affect High Yield Bonds?
May 28 -- Franklin Templeton Fixed Income Group Senior Vice President Eric Takaha discusse...
published: 28 May 2015
How Will Higher Interest Rates Affect High Yield Bonds?
How Will Higher Interest Rates Affect High Yield Bonds?
- published: 28 May 2015
- views: 26
4:18
Short Term High Yield Bonds
The current low interest rate environment means that bond investors have to take more risk...
published: 03 Sep 2013
author: hubbis
Short Term High Yield Bonds
Short Term High Yield Bonds
- published: 03 Sep 2013
- views: 500
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hubbis
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3:03
What is a high yield bond?
When is "junk" valuable? When there's high yield to be had, of course.
Paddy Hirsch expla...
published: 23 Jun 2015
What is a high yield bond?
What is a high yield bond?
- published: 23 Jun 2015
- views: 301
2:28
BloombergTV - High-Yield Bonds Make A Terrible Investment
In my second segment from BloombergTV, find out why I hate high-yield bonds! The key to in...
published: 13 Mar 2012
author: Matson Money
BloombergTV - High-Yield Bonds Make A Terrible Investment
BloombergTV - High-Yield Bonds Make A Terrible Investment
- published: 13 Mar 2012
- views: 828
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Matson Money
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5:31
2015 High Yield Bond Market Outlook
The high yield market has lost its ability to appropriately price risk, and investors will...
published: 08 Jan 2015
2015 High Yield Bond Market Outlook
2015 High Yield Bond Market Outlook
- published: 08 Jan 2015
- views: 18
20:40
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
Private equity in the 1980s relates to one of the major periods in the history of private ...
published: 15 Dec 2014
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
- published: 15 Dec 2014
- views: 8
12:12
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988) Pri...
published: 03 Mar 2015
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
How Corrupt Are Securities Markets? The High-Yield Debt Market & Private Equity (1988)
- published: 03 Mar 2015
- views: 0
20:40
How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988
...
published: 16 Apr 2015
How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988
How Corrupt Are Securities Markets The High Yield Debt Market & Private Equity 1988
- published: 16 Apr 2015
- views: 1
3:25
Make Money From the Coming Collapse in High Yield Bonds
A default wave will soon be hitting high yield bonds and investors better be prepared for ...
published: 26 May 2015
Make Money From the Coming Collapse in High Yield Bonds
Make Money From the Coming Collapse in High Yield Bonds
- published: 26 May 2015
- views: 38
7:31
Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334
Do you want to know if the stock market is going to crash next year? Just keep an eye on ...
published: 10 Jan 2015
Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334
Junk Bonds: Where The Stock Market Is Heading In 2015 - Rob Neal 602-295-2334
- published: 10 Jan 2015
- views: 537
4:31
Fridson Likes High-Yield Debt More Than Stocks in 2012
Dec. 23 (Bloomberg) -- Martin Fridson, global credit strategist at BNP Paribas Investment ...
published: 23 Dec 2011
author: Bloomberg News
Fridson Likes High-Yield Debt More Than Stocks in 2012
Fridson Likes High-Yield Debt More Than Stocks in 2012
- published: 23 Dec 2011
- views: 112
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0:39
Stock Trading for Beginners: High Yield Debt Junk Bonds
http://www.guerillastocktrading.com/stock-trading/swing-trading-with-junk-bonds/ If you ar...
published: 09 Nov 2014
Stock Trading for Beginners: High Yield Debt Junk Bonds
Stock Trading for Beginners: High Yield Debt Junk Bonds
- published: 09 Nov 2014
- views: 148
5:12
Emerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate Decision
A potential rate hike by the Fed has hampered investor appetite for risky assets, such as ...
published: 22 Sep 2015
Emerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate Decision
Emerging Markets And High-Yield Bonds Feel Pressured Ahead Of The Fed’s Rate Decision
- published: 22 Sep 2015
- views: 0
Professor Edward Altman’s Outlook on High-Yield Bo...
How Will Higher Interest Rates Affect High Yield B...
Short Term High Yield Bonds...
What is a high yield bond?...
BloombergTV - High-Yield Bonds Make A Terrible Inv...
2015 High Yield Bond Market Outlook...
How Corrupt Are Securities Markets? The High-Yield...
How Corrupt Are Securities Markets? The High-Yield...
How Corrupt Are Securities Markets The High Yield...
Make Money From the Coming Collapse in High Yield ...
Junk Bonds: Where The Stock Market Is Heading In 2...
Fridson Likes High-Yield Debt More Than Stocks in ...
Stock Trading for Beginners: High Yield Debt Junk ...
Emerging Markets And High-Yield Bonds Feel Pressur...
Junk bond expert Marty Fridson says he thinks high...
T/A on USD High Yield Debt...
High-Yield Debt Investment Strategy...
debt consolidation credit counseling high yield sa...
What is a junk bond?...
LeBas Sees Risk `Creeping Up' in High-Yield Debt M...
Zafran Says Look to Buy High-Yield Bonds on `Weakn...
Eugene Flood Sees Opportunity in U.S. High-Yield D...
High-Yield Emerging Market Debt Favored by JPMorga...
photo: AP / Geert Vanden Wijngaert
Brussels Stays on Lockdown Amid Hunt for Several Terror Suspects
Edit Bloomberg 22 Nov 2015
Brussels remained on lockdown as authorities hunted several suspects they fear may be about to launch a Paris-style Islamic State terrorist attack. The city kept its metro system closed, canceled neighborhood outdoor markets and cultural events and told people to avoid gathering in large groups. Police and soldiers patrolled the downtown area. Closed entrance of the Shuman Subway Station in Brussels. Photographer ... Photographer ... The U.S ... ....
photo: AP / Geert Vanden Wijngaert
Paris attacks suspect Salah Abdeslam could be in Brussels 'ready to blow himself up', says friend
Edit The Times of India 22 Nov 2015
BRUSSELS. Brussels faces a second day in security lockdown after the Belgian government raised the terror threat for the city to its highest level, warning that the risk of an attack is "serious and imminent". Armed police and soldiers patrolled the streets of the Belgian capital, while the city's underground metro services were closed, along with cinemas, shopping malls, museums and underground car parks ... "My client was very scared ... ....
photo: USAF / Senior Master Sgt. Cecilio Ricardo
If Only Drone Operators Were Like Ants
Edit WorldNews.com 22 Nov 2015
Having assisted in the U.S ... In addition to these unselfish behaviors, they promote security among siblings, nieces, nephews, and cousins.(2) A webwork of protectors, searchers and gatherers of food, scouts, guards, care givers, and construction workers have made ants highly adaptable and the dominate insect species ... In other words, a highly computerized instinct enables them not to lose their horizontal vision and projective paths.(3)....
photo: Creative Commons / Wing-Chi Poon
Crimea without power from Ukraine after electricity pylons 'blown up'
Edit Toronto Sun 22 Nov 2015
MOSCOW/KIEV - Crimea was left without electricity supplies from Ukraine on Sunday after pylons carrying power lines to the Russia-annexed peninsula were blown up overnight. It was not immediately clear who had damaged the pylons, but a Russian senator described the move as an "act of terrorism" and implied that Ukrainian nationalists were to blame....
photo: AP / Majdi Mohammed
Israeli woman stabbed to death, 3 attackers killed
Edit Springfield News-Sun 22 Nov 2015
A young Israeli woman was stabbed to death by a Palestinian who was among three assailants to be shot dead following separate attacks Sunday, Israeli security forces said, with the latest flare-up of violence coming ahead of a visit to the region by U.S. Secretary of State John Kerry ... Dr ... He said despite attempts by medics to save her, she succumbed to her wounds ... A soldier then fired at her and killed her ... ....
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14 Predictions for 2016 from the Brightest Minds in Finance
Edit Bloomberg 20 Nov 2015
For investors with a bond portfolio in these rocky times, Fuss recommends a mix of Treasuries, investment-grade corporates (with maturities of five to 12 years), and high-yield debt has the best chance of success in 2016. And you’ll need to be especially picky when it comes to high-yield bonds instead of relying on an index fund, he says....
2015-11-20 Half Year Results to 30 September 2015 (Alpha Real Trust Limited)
Edit Public Technologies 20 Nov 2015
ART currently focuses on high-yielding property debt and equity investments in Western Europe that benefit from or are capable of delivering, near term, underlying strong cash flows ... High yielding debt ... ART's strategy of focusing on both high-yielding property debt and equity investments in Western Europe has meant that we have flexibility, supported ......
Sprint signs $1.2 billion deal for the sale and lease-back of certain leased devices to ...
Edit Public Technologies 20 Nov 2015
The transaction, which is expected to close in the first week of December, will immediately improve the company's liquidity position and the funding comes at an attractive cost of capital, which is well below Sprint's alternatives in the high-yield debt market ... debt financing from several lenders including international banks and leasing companies....
Flu Season for Junk Debt as Oil and Fed Spread Pain, UBS Says
Edit Bloomberg 19 Nov 2015
high-yield debt, and there’s no handy vaccine for vulnerable issuers, according to UBS Group AG. The oil rout that drove junk-bond energy debt to the worst returns since the ... high-yield market given the latest decline in commodity prices," Mish wrote ... high-yield market a virtual certainty as refinancing fears rise for lower-quality high yield."....
Simpson Thacher Elects Nine New Partners
Edit Business Wire 18 Nov 2015
NEW YORK--(BUSINESS WIRE)--Simpson Thacher & Bartlett LLP announced that it has elected nine attorneys as members of the Firm effective January 1, 2016. The new partners are ... He represents major investment banks, large corporate issuers and private equity sponsors in connection with securities offerings ranging from initial public offerings, 144A high yield debt offerings, l ... ....
Vostok New Ventures Ltd. Nine Months Report Covering the Period January 1, 2015—September 30, 2015 ...
Edit Public Technologies 18 Nov 2015
The company holds the #1 position in five markets in the region as well as a #2 positions in others including the highly attractive Saudi Arabian market ... We have taken on a small debt in October. This credit facility of USD 25 mln is a cost-effective bridge funding until our high yielding debt investments mature and will allow us to remain flexible around a continued strong deal flow and our liquidity management operations....
These Wall Street Jobs Are Poised for Biggest Swings in Pay
Edit Bloomberg 17 Nov 2015
Distressed debt and mortgage-linked securities? Not so much ... Traders of distressed debt and fixed-rate collateralized mortgage obligations may see their compensation tumble 25 percent ... Pay will probably drop 20 percent for traders of high-yield debt, crude oil and loans, according to Options Group....
Big pay day ahead for health-care bankers as well as rate options traders
Edit Sydney Morning Herald 17 Nov 2015
Distressed debt and mortgage-linked securities? Not so much ... Traders of distressed debt and fixed-rate collateralised mortgage obligations may see their compensation tumble 25 per cent ... Pay will probably drop 20 per cent for traders of high-yield debt, crude oil and loans, according to Options Group....
Monthly Factsheet (Pacholder High Yield Fund Inc)
Edit Public Technologies 16 Nov 2015
Pacholder High Yield Fund Inc) untitled. Pacholder High Yield Fund, Inc ... High Yield Bond Category. ... Invests in all types of high-yield, high-risk debt securities ... CSFB Domestic High Yield Index-Developed Countries Only ... CSFB Domestic High Yield Index-Developed Countries Only ... Pacholder High Yield Fund, Inc ... The CSFB High Yield Index is designed to mirror the investible universe of the US dollar-denominated high yield debt market....
Baker Botts Announces Promotion of 12 New Partners (Baker Botts LLP)
Edit Public Technologies 16 Nov 2015
Thomison represents borrowers, financial institutions, capital companies, agent banks and other institutional investors in connection with acquisition financings, senior and subordinated debt, working capital credit facilities, bridge loans, asset-based financings, secured and unsecured term lending, high-yield debt offerings, private placements of securities, receivables financings and other forms of debt financing....
U.S. Steel Yield Surges to 20% as Metal Rout Imperils Turnaround
Edit Bloomberg 13 Nov 2015
bonds plunged, sending yields to record highs, as slumping metal prices hinder its efforts to return to profitability after three consecutive quarters of losses. The Pittsburgh-based company’s $600 million in notes due 2020 capped a fifth straight weekly decline, pushing up yields to 20 percent. That’s a record 12 percentage points above an index of high-yield debt sold by materials companies....
China Speeds Up Fiscal Spending in October to Support Growth
Edit Bloomberg 12 Nov 2015
The stepped-up stimulus effort had taken the fiscal-deficit-to-gross-domestic-product ratio to a six-year high by the end of September, according to an October report by Morgan Stanley analysts led by Sun Junwei in Hong Kong ... The country plans to raise the quota for regional authorities to swap high-yielding debt for municipal bonds by as much as 25 percent, according to people familiar with the matter ... ....
Marret Resource Corp. Releases Q3 2015 Financial Statements
Edit Stockhouse 12 Nov 2015
It is the current intention of the Board that the Reserve Amount be invested in the debt and equity of natural resource companies ... Marret Asset Management and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies....
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