Saturday, October 23, 2010
The Economist: Junk Bonds
Drexel Burnham Lambert's legacy: Stars of the junkyard | The Economist: "Junk bonds, once despised, are now mainstream. “Milken and Drexel took high-yield bonds from a cottage industry to one of the cornerstones of the financial industry,” says Howard Marks, one of Mr Milken’s early customers and now chairman of Oaktree, a Los Angeles firm that manages around $75 billion in funds, much of it in high-yield bonds and related investments."
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment