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How to make money from credit despite lower rates

Chris Joye, AFR columnist and portfolio manager at Coolabah Capital, is a prolific and thought-provoking commentator on economic and credit topics; he also runs a number of credit strategies which are unlike the traditional buy-and-hold fixed income strategies most retail investors are generally familiar with. So is this area of credit for you, and how do you make room for it in a traditional portfolio?

Chris Joye, AFR columnist and portfolio manager at Coolabah Capital, is a prolific and thought-provoking commentator on economic and credit topics; he also runs a number of credit strategies which are unlike the traditional buy-and-hold fixed income strategies most retail investors are generally familiar with. So is this area of credit for you, and how do you make room for it in a traditional portfolio?
 

In part one of this lengthy and insightful discussion, Chris tells:

  • Why he only buys floating (rather than fixed) rate securities,
  • Why he thinks Australian term deposits offer very good value,
  • Why the hybrid market is imperfectly priced, offering potential for excess returns
  • At which point he believes bank shares will be worth buying, and
  • How to get ‘edge’ and deliver meaningful returns in fixed income.
     

    

This podcast is somewhat longer than usual, so if you’re short on time, consider listening at 1.5-2x speed, which should be shown on the screen of your device as you listen. This won’t just reduce your listening time; it has also been shown to improve knowledge retention.