Fear Of Debt

Debt has become a complete pariah. The pendulum on debt has swung to the other extreme compared to 2007.
The world cannot function without debt. All assets cannot be owned by equity. Investors have a desire for collateralized lending with first charge on assets cushioned by sufficient equity. They are willing to forego higher returns in exchange for reducing (substantially) volatility and risk. On the other side, entrepreneurs and managements have confidence in their abilities, their products and their markets to leverage up their scarce equity capital to enhance their equity returns. More...

Revisiting January 2007

I wrote a newsletter in January 2007 at the height of the global easy money boom. http://atyantcapital.com/wp-content/uploads/2007/12/atyant-capital-newsletter-issue-19.pdf

It seems like everything that the media is talking about today is what should have been worried about then. The time to be fearful was then. Now is the time to be greedy. More...