Guest Speaker: Martin Fridson, CFA
Fridson will present empirical research that leads to some surprising conclusions about the high yield market, including.
- The best predictor of spreads on high yield bonds is not leverage, coverage, or free cash flow.
- Index-based spreads between rating categories provide misleading signals to sector rotators.
- There is no systematic underpricing of speculative grade busted convertibles.
- There are instances where yield and price move in the same direction.
- Market-cap-weighted indexes do not cause investors to be overweighted in the most leveraged credits.
- One previous study found that the high yield spread curve is positive. Another found that it is negative. Both were wrong.
- The reported volatility of the high yield asset class is unquestionably understated.
Zoom information will be forwarded to you after your registration is completed. Look for an email from with your personalized zoom link.
When
September 21st, 2021 from 3:00 PM to 4:30 PM
Location
Zoom Webinar::NY EST
United States
United States
Event Fee(s)
Registration Fee | $30.00 |