Credit bulls make forceful case for sustained high returns
By Lawrence Delevingne
Mon Nov 5, 2012
Views at the Absolute Return Symposium from GoldenTree, Pine River, Brevan Howard and Cerberus; "a lot more opportunity."
|Credit bulls sound off at the Absolute Return
Symposium: Fehrenbach, Tananbaum, Moderator
John Baskott, Teichholtz, Warren, Weintraub
(L-R) (Photo: Axel Dupeux)
Some investors have wondered if the recent strong returns
from investments in high yield credit and mortgage backed
securities can continue. Leading hedge fund managers gave an
unequivocal answer at the Absolute Return Symposium last week:
"What will be the breaking point where we don't think that
it's attractive? We are so far away from that," said David
Warren, chief executive of $4 billion DW Investment Management
and manager of the Brevan Howard Credit Catalysts Master Fund
(performance data here). "Hasn't it moved a lot? The answer is
yes, we all made good money...
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