
A 'Cheat Code' for the Bond Market
What Goes Up
What's Your Bias?
Barry Drexler: I'm constantly looking for, for, what can i get without taking any risk? He says he starts with really good balance sheets and then buys bonds that are trading at a discount. When bonds were overvalued, we weren't paying one, ten, one, 21, 30, we just wouldn’t do it,. So what we do is wait until they become discounted. But to your point, michael, some of the long bonds are trading at 65, 70 cents on the dollar for companies thatare with outrageous balance sheets.
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