The “Black Swan” Trader Strikes Again
In today’s “two-for-the-price-of-one” recommendation, we pair one of the best distressed debt vehicles available, with a company that offers an inflation hedge through its exposure to higher commodity prices.
March 2023
A Bank Built for A Credit Bust
Houlihan Lokey (HLI) is a cash-rich, debt-free financial firm that specializes in restructuring…helping soon-to-be-bankrupt companies get back on their feet. In today’s debt-crushed environment, there’s no better business to be in. A shares position in HLI is the perfect first exposure to the fascinating world of distressed debt. Houlihan Lokey is a “forever company” that
The Ultimate Bank Run
Eventually, people will stop worrying about the viability of private banks like Credit Suisse, and start worrying about the viability of central banks and the currencies they issue. The coming loss of faith in government-issued currency will cause the ultimate bank run – a run on central banks. A Run on Central Banks On March
Portfolio Update: Distress Spreads Beyond Banks
Today’s issue will be the first market and portfolio update from our Director of Distressed Investing, Martin Fridson.
The Man Who Almost Took Down J.P. Morgan
Thanks to an activist showdown in 2019, investors can now access a public company that is effectively a hedge fund-style investment vehicle, helmed by one of the best fund managers on Wall Street.
The SVB Crash Was Just The First Domino
In light of the past week’s extraordinary market events, we’re releasing this “state of the markets” briefing.
What to Watch After the SVB and Signature Bank Collapses
In today’s special edition of Something You Don’t Know, you’ll find an important briefing from credit analyst and author Martin Fridson, who leads Porter & Co.’s Distressed Investing team.
Here’s Why No One Will Ever Be Able to Stop Inflation Again
Current Fed Chairman Jerome Powell wants to put an end to inflation. Unfortunately – for Powell, for markets, and for investors – it appears increasingly unlikely that he’ll get his wish.
A Safe Bet on the “Graying of America”
Below, you’ll find your first official distressed bond recommendation from Wall Street’s “Dean of High Yield,” Martin Fridson. (Martin is also an accomplished writer of light verse, and will be opening each monthly issue with a short original poem.)