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Dan McNamara & Michael Gayed: Unveiling the Future of Retail & Commercial Real Estate

Lead-Lag Live

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The Net Longer Net Short Is What Drives the Ultimate Performance

Our gross position would never be more than 200% because we keep our leverage very low, but our net positioning is something that could change all the time. For the most part last year, our belief was the credit curve was going to continue to steepen, so we were running a small net negative. You don't necessarily know when there's going to be a dramatic repressing in CMVX or any instrument you just need to hedge,.

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