Thursday, May 01, 2008

John Gapper of FT: Rise of High Risk Optimism?

With all the hoopla regarding this week's Milken Global Institute Conference, it's natural that the media is covering anything and everything regarding the former junk bond king, Michael Milken. It seems that the talk of the financial community is a 10-page paper that Milken put out just last week that lays out why once again his thesis that the risk-reward trade-off with junk bonds outweighs that of investment grade debt. His evidence? The slew of write-offs of so-called investment grade securitizations.

John Gapper of the Financial Times discusses the Milken paper today in his column. This is a follow-up to Sorkin's column for the NYT. I am trying to get a copy of this Milken paper, but I can't seem to find it online. If anyone has it, please send it to me at


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