Redleaf: Corporate America is the only remaining arbitrageur for orphaned securities
Andy Redleaf · Andy Redleaf - Evolution of Markets (Capital Allocators, EP.46) · Apr 2, 2018 · at 49:27
Andy Redleaf, founder of Whitebox Advisors, explains how structural market changes and the loss of Wall Street dealer desks eliminated natural market arbitrageurs.
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“I see there being more permanently orphaned securities, and, you know, I mean, really, The only people to, ah, to be the effective arbitrageurs or to close differences is, is corporate America, and corporate America is sort of slower.”
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