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Quote of the Week: No Rush to Risk

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April 30, 2015

I tend to think it is easier to prepare than predict. The best thing to do is know that eventually all of these unnatural built-up build ups … will have an adjustment. Rather than spend too much time predicting when they will happen, maybe it’s better to just prepare.”

Who said it: Joshua Friedman, founder Canyon Partners

In context: A number of articles came out this week from the annual Milken Institute’s global conference in the US, one of which included tips on where the next big thing in PE is going to be (such as 3D Printing, European real estate and financial institutions, healthcare, and digital distribution). The above quote was Friedman’s input when talk turned to the timing of the current bull market, driven in part by Central Bank strategies, with discussion of areas of high risk investment to avoid at the moment. The experts noted several “credit bubbles in the system” including high-yield and bank debt. From what Friedman and other expert panelists said, they do not expect a broad selloff like we had in 2008, but they are expecting distressed opportunities when markets decline. They are waiting and have the money spend when the opportunity arises. (Image source: Milkeninstitute)

Where we found it: CNBC

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