How Is the Structured Credit Market Changing?
Structured credit markets are being affected by technical factors as investors confront modest new issuance, constrained dealer inventory, and lower liquidity than the norm in recent years.
Authored by: Myles Gilbert
Are We Seeing a Return of 2007-Era Behavior in Credit Markets?
Bankers are fond of saying “bad loans are made during good times.” With equity markets reaching new highs, volatility and interest rates hovering around historic lows, positive economic growth, and increased merger activity, we could characterize today’s environment as the “good times.” Since credit markets run in cycles alongside the broader economy, investors need to…
Dodd-Frank’s Impact on Alternative Investments: A Brief Review
This paper highlights key provisions of the major U.S. financial act signed into law in July 2010, focusing on issues related to alternative investments and managers. With more than 60 mandated federal studies due over the next several years and at least 200 new regulations that have yet to be written, the final regulatory landscape…
Distressed Investing
The financial and economic crisis continues to create a broad and deep range of investment opportunities, many of which remain attractively valued, even after taking the recent rally into account. Given the risk that cheap assets will end up worthless, we emphasize the importance of careful manager selection across the board. Further, we caution that…