Tag LATIN AMERICA HIGH YIELD

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-” In the end, the devil usually wins. Caution, maturity and doing the right thing are old-fashioned ideas.” Oaktree’s Howard Marks talking to Finanz und Wirtschaft.
The Italian NPL Market – the Mergermarket/PWC assessment.
– “I have more fight than anyone needs for any job, I said. I’ve come a long way, from a mud hut in the rainy season in a part of the world you only know as a basket case of misery…..I’ve been beaten black and blue my whole short life and I’ve made it here. Have I got the fight? You tell me.” James Wood at the New Yorker writing about the best novel of the year (so far): Zia Haider’s “In the Light of What We Know”.
“Não tenho medo do fracasso. De fracasso em fracasso, a gente aprende. Tudo o que não fiz no cinema fiz em quadrinhos. As pessoas que fazem uma única coisa vão à lona quando fracassam.” ,Alejandro Jodorowsky at 85.

 

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-The Journal of Structured Finance Articles:   “Analyzing Brazilian ABS: FIDCs” and  “Pricing Brazilian ABS to Trade in the Secondary Market: Benefits from Assimilating Best Pricing Practices” by Vernon Budinger.
– “Banks are going to slowly look more and more like utilities,” Novogratz said.
“Every year you need to start from scratch again,” Quemada said. “Life at a small boutique is really tough.”
“Life will be harder for traditional active-fund-management companies. Their market share is being eroded by the ETFs at the bottom and by private-equity and hedge funds at the top”
– A brilliant New Yorker article on Soylent, the food-replacement start-up – full of quotables: ““This is life—a walking chemical reaction” ,“Most ideas, you can claim, are not new….Often, they just haven’t been executed or marketed right.”

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São Paulo, abstract wall painting at RB Station,Praça da Bandeira,República –  a former electrical substation turned into art gallery.

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-‘Apollo Global, the private equity and distressed debt specialist co-founded by Leon Black, is starting a unit to primarily buy investment-grade and high-yield corporate debt from Latin America and Asia‘.
Fantastic piece by Alex Preston on Michael Lewis’ ‘Flash Boys’.
-Not so new, but still amazing – according to market researcher Euromonitor, Brazil, overtaking Japan as the World’ second largest beauty market, the Forbes take.
-On how Mies van der Rohe was commissioned to design the Seagram Building by (among other reasons) paying a compliment to Le Corbusier, a brilliant article in the  London Review of Books by Christopher Turner.
-‘We should honour Pascal, and the long line of pessimistic philosophers to which he belongs, for doing us the incalculably great favour of publicly and elegantly rehearsing the facts of life‘.

CopanSP

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-New regulation (and recapitalization)  will bring “tremendous mispricing between the different levels of the capital structure” in Banks: Blue Mountain’s James E. Staley.
Recent trends in Latin American High Yield Offerings,
-“Prepackaged Bankrupcy/Restructuring” in Delaware – “The Curious Case of the European Vodka Seller” by The New York Times,
– Last week: Mary Meeker’s Annual Internet Trends Report: mobile momentum,wearables and China -main slides mentioning Brazil below – mobile, mobile….,
A brilliant review of one of Paris’ worst restaurants (via @GeorgesJanin) : ” Why do they continue to come here?….The only rationally conceivable answer is: Paris, Paris exerts a mercurial force field….it defies judgment.”

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