Show Us Your Portfolio: Mike Green
Excess Returns
00:00
How to Hedge Out Credit Exposure
Bill Ackman famously bought CDS on high yield directly in front of the coronavirus event's absolutely fantastic trade. I've built a equity long short overlay that is designed to mimic what can be easily thought of as effectively the market's desperation to tap into refinancing. The problem with trying to hedge out credit exposure is that it's incredibly expensive if you're using options.
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