HYBRID VIGOR: VOL 3 ISSUE 7 "Spreading Our Wings"

Who would have thought it?

Oh, you must be guessing that we’re referring to Donald Trump’s seemingly inevitable path to the Republican presidential nomination. We admit to being skeptical as to whether Mr. Trump actually wants to be president, but we have no doubt about how much he likes to compete and win.

But that wasn’t what we were referring to. Nor were we asking how the bastard son of a whore and a Scotsman, dropped in a forgotten spot in the Caribbean by Providence, impoverished in squalor, grew up to be a hero and a scholar. No, the real shocker is that Hybrid Vigor is not only still going strong—today’s issue is our 86th since
we started publishing in July 2014—but stepping up its game to include high-yield commentary.

We have actually been flirting with branching out for some time, with occasional equity and option commentary. But with the high-yield market in disarray, we thought it was time to extend our reach. Inside you’ll see George Lynch’s description of our plans and new team member Dennis Dowden’s thoughts on TransDigm Group’s capital structure.

We continue, of course, to give you the regular convertible features and commentary you have come to expect. Our endless optimism for this asset class, which sometimes feels treated a bit like Alexander Hamilton in his hardscrabble youth, has not dimmed. And we look forward to some exciting new announcements in the coming weeks.

Last week, indeed, showed rays of hope, rays that seem to be continuing to burn through clouds of fear this morning. This promises to be a very interesting year, with a lot of opportunity for our clients—and for us. 

(This is the cover letter for the subscription-based weekly Hillside's Hybrid Vigor newsletter. For a complete copy, please contact John Anderson at + 1 (646) 712-9289 x 107).