This week has been a very topsy-turvy week for the portfolio. Not only did it not benefit from the run in small cap because it lacks those companies with no earnings companies that focus on uranium, quantum computing, former crypto mining companies, it drew most of the fallout from the bankruptcy of First Brands and TriColor. Halfway into the week, the portfolio benefited when Fed Chair Jerome Powell indicate that the path going forward are likely to be lower rates. What dominated the headlines was what ha ...

A leading Wall Street investment bank’s top executive claims to have been “defrauded” in the bankruptcy saga surrounding First Brands Group, a collapse that now threatens a chain reaction across global credit markets. At the same time, legendary short-seller Jim Chanos, famed for his role in exposing the Enron scandal, has drawn ominous parallels between this moment and that one, warning this may be another watershed moment for Wall Street.​ Jefferies CEO Rich Handler told investors on Thursday that the b ...

(Bloomberg) -- Marathon Asset Management LP bought the term loan of collapsed First Brands Group at around 40 cents on the dollar and sees it as a “great company” with a bad balance sheet, Chief Executive Officer Bruce Richards said.“We feel good about that position because we think it’s a great company that needs to be restructured,” Richards said Thursday in an interview with Bloomberg Television. Marathon snapped up the term loan “in the 40s,” he said.Marathon, a distressed-debt investor, is heading up t ...