"During 2020, Karoui expects the 12-month trailing default rate to increase to 13%. Over the next six months, he forecasts about $555B worth of bonds will likely be cut to high-yield from investment-grade, in addition to the $149B downgraded year-to-date." bloomberg.com/news/articles/… 
2/ People love junk bonds because for some weird reason they feel [junk bonds] don’t have interest rate risk.”
“We try to be liquidity providers and get paid for that. What tends to support outperformance over time — buying when other people need to sell."25iq.com/2014/10/04/a-d…
“We try to be liquidity providers and get paid for that. What tends to support outperformance over time — buying when other people need to sell."25iq.com/2014/10/04/a-d…
3/ "I want fear. I want to buy things when people are afraid of it, not when they think it’s a gift being handed down to them.”
“There is one thing about being an asset manager. Timing is everything. The synonym for 'early' in the investment business is ‘wrong’.”
Jeffrey Gundlach
“There is one thing about being an asset manager. Timing is everything. The synonym for 'early' in the investment business is ‘wrong’.”
Jeffrey Gundlach
