What Do You Think About Defaults and Long Term Investing?

Kirk: Defaults are something that need to be watched closely. People are clamoring for liquidity, they're clammoring for yield. They want income. And if dividends don't always work, they didn't work during two thousand eight when the market crashed. But one of the risks that you have right now is when you start chasing yields,. As things get chased, the asid price gets driven up. So all of a suden you're not collecting enough to pay for those that start to default. The borrowing cost for companies that have levers drawn the rise. That's going to create more financial trouble for them. kirk can talk about this a little bit more flatter