
The Insight: Conversations – Fighting the Fed with Armen Panossian, Danielle Poli, and Megan Messina
The Memo by Howard Marks
The Opportunity to Invest in High Quality Bank Loans at a Discount
I think in the current environment, the opportunity is to focus on high quality bank loans that happen to be trading at a discount. The opportunity continues to be for high cash flow, but also total return as well. So because equity investors own the two very valuable options that we already talked about, calling the deal hopefully at a premium or refinancing at a lower cost of debt. Really enables you to invest the portfolio through dislocations, focusing on quality with the potential for capital appreciation in the future. Right. Well, I think that is an excellent place to end. Thank you so much for joining me.
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