The old adage “love everything, be attached to nothing” may appear to ring hollow in the complex universe of event driven capital structure arbitrage, but given due consideration, the axiom could have a profound effect on portfolio managers who choose to heed its simple wisdom.
When applied to the investment world, its lesson is both unassuming and incisive. A fund manager with no investment constraints, or a strong bias to one asset class, can fluidly move up and down the capital structure
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Sefs, Libor fallbacks and risk governance in Asia
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts