George Cipolloni’s son is a video-game aficionado, and the teenager’s language has clearly worn off on his father. Indeed, the portfolio manager at Penn Mutual Asset Management jokes he’s found a “cheat code” in the bond market that’s helped his balanced strategy beat its benchmark with a heavy allocation to high-yield corporate debt. But don’t be alarmed: His “code” is really just fundamental analysis used to find bonds with attractive yields, but little risk. 

Cipolloni joined the latest episode of “What Goes Up” to discuss the strategy and offer his reaction to the wild ride in markets following the surprise inflation report on Sept. 13. Some highlights of the conversation: 

“So the ‘cheat code’ in the bond market for me and for our strategy is: Where can you limit risk or where can you lower risk in a high-yield security? Well, you can find certain smaller securities because we are a small fund at the moment and we can buy these smaller securities, smaller issues. And you can find companies that have more cash than debt on the balance sheet.”

<a href="bbg://people/profile/6217164" data-web-url="" data-cke-saved-href="bbg://people/profile/6217164">George Cipolloni’s</a> son is a video-game aficionado, and the teenager’s language has clearly worn off on his father. Indeed, the portfolio manager at Penn Mutual Asset Management jokes he’s found a “cheat code” in the bond market that’s helped his balanced strategy beat its benchmark with a heavy allocation to high-yield corporate debt. But don’t be alarmed: His “code” is really just fundamental analysis used to find bonds with attractive yields, but little risk.  Cipolloni joined the latest episode of “What Goes Up” to discuss the strategy and offer his reaction to the wild ride in markets following the surprise inflation report on Sept. 13. Some highlights of the conversation: 
<blockquote>
“So the ‘cheat code’ in the bond market for me and for our strategy is: Where can you limit risk or where can you lower risk in a high-yield security? Well, you can find certain smaller securities because we are a small fund at the moment and we can buy these smaller securities, smaller issues. And you can find companies that have more cash than debt on the balance sheet.”
</blockquote>

Hosts Mike Regan and Vildana Hajric are joined each week by expert guests to discuss the main themes influencing global markets. They explore everything from stocks to bonds to currencies and commodities, and how each asset class affects trading in the others. Whether you’re a financial professional or just a curious retirement saver, What Goes Up keeps you apprised of the latest buzz on Wall Street and what the wildest movements in markets will mean for your investments.

Hosts Mike Regan and Vildana Hajric are joined each week by expert guests to discuss the main themes influencing global markets.

What Goes Up

A 'Cheat Code' for the Bond Market

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/529ce58c-5478-4ae0-8ec2-af1100e13580/transcript

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