Tuesday, 23 September 2014
Last updated 4 hours ago
May 4 2011 | 10:26am ET
Subprime mortgage-backed securities, which helped bring the world’s financial system to its knees in 2008, may be ready for a comeback.
Josh Friedman, co-founder of the Los Angeles-based hedge fund Canyon Partners, told a Beverly Hills audience Tuesday that the securities offer potentially high returns and there’s little competition for them.
According to Reuters, Friedman, while participating in a panel discussion at the 2011 Milken Institute Global Conference, said "There are hundreds and hundreds of players in the market searching for yield. The nice thing, structurally, about this market is there haven't been natural inflows into the market. It's nothing but sellers,” said Freedom.
Canyon owns about $4.5 billion worth of subprime mortgage-backed securities which trade around 40 cents on the dollar. Friedman estimated the market for them at $1 trillion. But Friedman warned that investors should research the securities before making any purchases.
"There's a wealth of information in each of these securitizations," he said.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.