Howard Marks Discusses the Interest-Rates Machine
Masters in Business
00:00
Can People Buy the Worst Bond Portfolio?
Barry Cevallos: I've always hated the phrase that came out of the financial crisis, toxic assets because it wasn't the assets that were toxic. You could buy the worst bond portfolio and get good returns if you paid a low enough price. He says computers can probably do a better job than some very large percentage of investors, but just not as good as the best.
Play episode from 20:21
Transcript
