The collapse of Drexel Burnham Lambert in 1990 triggered a collapse of the high-yield bond market: not a single new high-yield issue came to market for the whole remainder of the year. Marty Fridson recounts how the Great Debacle came to be.
Similar to Steve Jobs, Porter believes, Donald Trump has a “reality distortion field.” Trump’s reality distortion field, however, is blinding his supporters into thinking that he can return broad prosperity to the middle class without major dislocations in the markets.
When markets are hitting new highs, and inflation is rising, raising cash can feel like the last thing you’d want to do. But it should be the first thing to do. Here are few lessons on how to raise cash and where to put it once you do.
In this special edition of the Daily Journal, Martin Fridson, Wall Street’s Dean of High Yield, shows how companies looking to raise capital tend to issue new bonds into an environment that benefits them, and not investors. Marty uses his decades in the sector to provide insights into how you can get in on the right side of the bond market.
When things get really bad, escaping to the Grand Canyon is not enough. You need cash, passports, food, and all the right investments. Kim Iskyan explores Plan Z.
Just a few years before Michael Lewis was at Salomon Brothers, eventually writing his best-seller Liar’s Poker, Porter & Co. Distressed Investing analyst Marty Fridson was in another part of the building at One New York Plaza, identifying profitable trade opportunities in the debt market. He shares details in today’s Journal.
In this issue, we recommend the stock and bond of a company that has moved itself from a financially precarious position to a secure one… but the market doesn’t yet appreciate this new reality.
In this week’s issue, we provide a peek behind the curtain of Porter & Co.’s Distressed Investing advisory, detailing a deeply discounted debt opportunity in a sector that has been left for dead in the post-COVID world.
Owing to an oversupply of office space, the bond price of this commercial real estate company has declined as if a bankruptcy is likely. In this issue, we will show you why we think the bonds are worth more than that – possibly much more.
We have found one bond among more than a dozen issued by these two newly merged companies that we consider well very protected from the financial perils that the new company might experience. And because of this, it has an extra high yield, which can lead to extra high profits.