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Value After Hours 05 18: Michael Kao, Urban Kaoboy; Alpha with Asymmetry; Capital Structure Arb

The Acquirers Podcast

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Buffett's Favorite Trade of All Time

We went from convert arm down to pure distress, right? Just balls out long the convertible bond at four cents on a dollar. And then when the converts went back to 70, we shorted the converts and went dollar for dollar along the stock. Then before you knew it, there was a bidding war between Brookfield and Simon Property Group for general growth properties. So that's what I mean by like, this was my career winning this trade of all time.

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