Morehead: Baylor exited 2016 high-yield energy trade up 50%
David Morehead · David Morehead – Top Down Allocation at Baylor (EP.381) · Apr 22, 2024 · at 28:49
David Morehead, CIO of Baylor University's endowment, explains how Baylor takes contrarian bets on dislocated asset classes to offset upside drag.
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“For example, in 2016, high yield energy in particular, that was the downdraft in the energy markets when crude prices really came in. The joke at the time was that 60 was the new par. And by the end of 2016, that had come around and we were out Of that position, but that position was up 50%.”
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