Cover of Diamond Dogs
Back in the day when I started working in the bond world, I thought I was entering the sleepier side of finance. However, I was soon amazed at how innovative fixed income was. Those guys could squeeze the proverbial blood out of a stone! They found value in places and assets others left for dead. Defunct companies, bottom-of-the barrel junk bonds, mortgages whose borrowers had defaulted – nothing was beyond the pale.
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