Ep. 897: Trends, Value and Selling with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Rise and Fall of High-Yield Bonds
How quickly did you know that your life had changed? I loved money management so much more than running a research department which was a administrative and bureaucratic task involving 75 people in the large budget and five committees now I was working on my own ferreting out value picking securities. The recognition of the new meaning came around the mid-80s the 85-86 period because about 30 to 40 billion a year were being issued that's when high-yield bonds became financially significant in the US economy.
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