The Rewind: Dare to Be Great
The Memo by Howard Marks
00:00
High Yield Bonds Have Outperformed High Grade Bonds for Two Decades
Everyone craves market inefficiency, but most people are vague on what it means or where it comes from. High yield bond portfolios have out performed high grade bonds for two decades plus. Distressed debt buyers have reaped high returns while enjoying the relative safety that comes with paying low prices.
Transcript
Play full episode
