Investment Ideas – the charms of CCDS

A new issue of hybrid securities that pay a dividend is potentially on the horizon and merits closer examination

PROGRAMMING NOTE - I’ll only be producing a short weekly note next week, but normal service is resumed the week after. Over the summer, there’ll be a few weeks where the thrice weekly letters are replaced by weekly letters.

One of the great vices of investment and finance is its enthusiasm for ever more complex acronyms, especially in the world of securi…