EM Sovereign Bond Sales – Facing Reality by Chris, Capitalist Exploits
Today I’ve recorded a very brief message which I hope you’ll enjoy.
What’s on my mind is the investments made by market participants who are basing investment decisions on global benchmarks which are severely distorted and where those investment decisions quite simply don’t price risk adequately.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
The below chart should be looked at in conjunction with the podcast. In the hunt for yield investors are pricing risk assets on a relative not absolute basis.
Increasingly, investors are compensated less and less to take more and more risk.
EM Sovereign Bond Sales
You might be wondering what does this erratic behavior mean for you as an investor?
It’s a question I focus on in in today’s podcast:
Enjoy and let me know your thoughts by leaving a comment below.
– Chris
“Don’t spend time beating on a wall, hoping to transform it into a door.” — Coco Chanel
