And since stocks follow junk bonds….
“Opportunities in Distressed Assets” as Existing Investors Get Crushed.
“Hangover from years of lenient credit may become painful.”
When a PE firm is through strip-mining a company.
And then there’s S&P’s “pessimistic scenario.”
“Distress” in Bonds Spirals into Financial Crisis Conditions
At the worst possible time.
It’s not contained.
But there’s still no panic.
“Some very critical things are hidden.”