The Memo by Howard Marks cover image

The Rewind: Dare to Be Great

The Memo by Howard Marks

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How to Buy High Yield Bonds

Many of the most successful investments have entailed being early. When someone says, i wouldn't buy that at any price, it's as illogical as i'll take it regardless of price. In 19 78, bash asked city bank to manage a new mutual fund for it. There's some guy named milkin or something who works for a small brokerage firm in california,. issuing and trading high yield bonds. Can you find out what that means? Few peopl had ever heard of high yield bonds. Corporate ceos said, my body's company was just threatened by a porate rader backed by junk bonds. And no public or union pension trustee wanted the headline risk associated with

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