Jump to content

Francis Chou Presentation - 2013 Ben Graham Centre Value Investing Conference


Guest hellsten
 Share

Recommended Posts

Anybody actively invest in debt securities? I've always felt that at the retail level, investing in fixed income was difficult due to the lack of information and resources and also because of the high investment increments of $1,000 or $10,000. Any of this true?

Would love to know anyone's experience with this as well. I'd like to be able to find bargains higher in the capital structure as well. It's fun screening for low P/Es and I can only imagine how fun it would be to screen for senior bonds trading significantly below par.

Link to comment
Share on other sites

Anybody actively invest in debt securities? I've always felt that at the retail level, investing in fixed income was difficult due to the lack of information and resources and also because of the high investment increments of $1,000 or $10,000. Any of this true?

 

To some extent it is true. I dont think information is an issue. I see issues in pricing. If you have fidelity account, you can look up bonds. YOu will see price difference in the same bond for different sizes. You will get better yield on a bigger notional. Until bond trading goes completely computerized, it will be like this.

 

Good news is that lot of the big Wall st firms are going towards computerization. So in next 5yrs we will get there.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...