A Deep Dive into Credit Investing with Joe Hegener
Excess ReturnsNovember 02, 202301:03:07

A Deep Dive into Credit Investing with Joe Hegener

In this episode, we take an in depth look at the credit market with Asterozoa Capital CIO Joe Hegener. We cover the basics of the credit market, the current state of the market, the potential upcoming refinancing wall and the most important fundamental criteria Joe looks at when evaluating companies.

#creditinvesting

00:00 - Intro
02:01 - What is credit investing?
05:07 - Are fixed income indexes easier to beat than equity indexes?
09:47 - The different categories of credit investing
13:30 - The impact of passive flows in fixed income
14:56 - The overall state of the credit market
20:22 - Is the refinancing wall reason for panic?
25:33 - Separating the cyclical and secular in macro
33:52 - The role of the overall macro picture in credit investing
39:26 - The importance of supply and demand in the bond market
44:42 - The role of quantitative analysis in Joe's process
48:25 - How bond investors look at fundamentals differently than equity investors
59:39 - The one lesson Joe would teach the average investor

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