Ian “Franco” Francis, the manager of CQS New City High Yield (NCYF), says that although markets seem buoyant, investors should be warier. He sums up his feelings with a quote from his former boss who cautioned him by saying “Escalators do not go to the sky”. This is not to say that the market is devoid of opportunities (for example, he sees these in financials and discount consumer retail), but investors must be selective and position themselves appropriately.
13 Nov 2018
Escalators do not go to the sky!
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Escalators do not go to the sky!
CQS New City High Yield Fund Ltd GBP (NCYF:LON) | 52.8 0.2 0.8% | Mkt Cap: 283.7m
- Published:
13 Nov 2018 -
Author:
Ed Marten -
Pages:
11
Ian “Franco” Francis, the manager of CQS New City High Yield (NCYF), says that although markets seem buoyant, investors should be warier. He sums up his feelings with a quote from his former boss who cautioned him by saying “Escalators do not go to the sky”. This is not to say that the market is devoid of opportunities (for example, he sees these in financials and discount consumer retail), but investors must be selective and position themselves appropriately.