Hints and tips:
...) big enough to make a meaningful impact on Berkshire’s earnings, (b) possible to reliably value, (c) have trustworthy and competent management, and (d) are available at a reasonable price....
...Typically, these are to either a) pay cash coupons; b) toggle to ‘pay’ bondholders with more debt claims, albeit with some additional penalty (even more debt claims); c) to PIK for a while then switch to...
...TCI made $12.9bn for investors and ended last year up 33 per cent, ahead of the S&P 500 index’s 24 per cent rise....
...At nearly 12 per cent it dwarfs the 7.5 per cent that US high-yield bonds pay, and is close to the effective yield of super-junky triple-C bonds....
...We also lowered our local currency (LC) sovereign credit ratings on Cameroon to ‘CCC+/C’ from ‘B-/B’. The outlook on the LC long-term rating is stable....
...They’re digital tokens backed either by a) dollar-denominated portfolios of safe assets; b) unaudited promises that they have safe assets; or c) magical confidence maths that only work until a death spiral...
...There were three choices A, B or C. But frankly they were all votes for merger. And we moved in the Referendum Bill that (even) spoilt votes will be counted as votes for merger.”...
...We like boxes B and C. Will the long end follow the short end down, and why? We can debate how much short rates will come down, but it seems pretty clear that they will fall....
...In the case of the McKinsey report published in 2020, the main study gathered data about diversity on the boards and in the C-suites of more than 1,000 large global companies....
...“Tape Loops B & C” are continuous improvisations which, divided into multiple parts, most capture the feel and spontaneity of a tight-working band....
...As ratings drop to C and D, the risk of default rises accordingly Developing nations with bad borrowing records may fall into these buckets....
...Rieder: I’d say it’s a B-. But it’s not a C. Why are you getting these sorts of yields in credit today? You’re getting them because the risk-free rate is so darn [high]....
...d in 2022....
...“Is it true that triple-C firms have interest coverage ratios below 1? Definitely, but that’s always been the case....
...Slok: In some cases triple C, even single B credit looks more vulnerable, because those are the firms that are more vulnerable to higher interest rates....
...But 18 other big companies attending COP28 got a grade of “D-minus” or worse....
...show (c) house prices will fall before long (d) banks will have to backfill the hole higher rates have opened in their balance sheets and (e) higher rates will make current levels of fiscal largesse impossible...
...CUT TO: THE PARLOUR OF THE B&B A woman is watching TV. In the corridor behind her, Phil walks by, dressed in a robe, carrying an electric toaster and a towel, heading for the bathroom....
...A train company might be the only operator that can take you from A to B (though some days you might be quicker walking)....
...Canada is the world’s fourth-biggest oil producer, pumping 4.8mn b/d of oil last year, of which oil sands accounted for 3.2mn b/d....
...The evening got off to a dismal start with La Ruta by Argentine dancemaker Gabriela Carrizo, alumna of Alain Platel’s Ballets C de la B and artistic director of Brussels-based outfit Peeping Tom; she specialises...
...s=20&t=EOCRBLW-LIiOVXIAhOeBbw In fact, Cruz tabled something similar back in 2021. This latest bill will go nowhere as well....
...A UK target to require all new rentals to carry a C rating first mooted for 2025 still has no firm deadline or legal standing....
...We haven’t mentioned the B-word yet. Bonds....
...(b) is very unlikely. The chances of (c) are impossible to estimate, even granting that Putin looks weaker now....
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