“The response to these deals was ridiculous”

Yield-hungry institutional investors are still going banoodles for corporate debt of every stripe. Anecdotally-speaking, the quote above is from a Reuters story on a new bond issue from Zoetis, a not-yet-public animal health spin-off from Pfizer that came to market with a debt offering. Zoetis floated a four-part offering of $3.65 billion and the order…

The Real Financial Follies

I go to this event each December called the Financial Follies at which the entire New York Financial Writers Association (NYFWA) gathers for a night of skits, ballroom table-hopping and open bar-fueled groping and pairing off into the wee hours of the night. All your favorite financial journalists and media stars are there and they…

Their Risks are Our Opportunities

The world is a risky place and the financial markets seek to reflect those risks every day. It is not until you begin to understand the nature of risk that you learn how fantastic it is as an opportunity creator. When most people consider investing risk, they focus on how much they can lose in…