That comment is in regards to doing to actual numbers and finding out if a new issue is cheap or rich. This is the easy part and everyone knows how to do it. It is not where the alpha is hidden. That is why I emphasized on the importance of correctly hedging your primary exposure. This is where I believe is the edge. If you want to discuss in detail you can email me or contact me via IB.
Great comment & very helpful! „Everyone knows how to value a new issue“ > tbh, i wd love to know your best strategy, thanks!
Hi Adrian,
That comment is in regards to doing to actual numbers and finding out if a new issue is cheap or rich. This is the easy part and everyone knows how to do it. It is not where the alpha is hidden. That is why I emphasized on the importance of correctly hedging your primary exposure. This is where I believe is the edge. If you want to discuss in detail you can email me or contact me via IB.
Thanks Sir! interesting