Park Square Perspectives: Avoiding the Zeroes

One of Warren Buffet’s best-known rules of investing is: “Rule No. 1: Don’t lose money. Rule No. 2: Don’t forget Rule No. 1.”

In credit, this is particularly important because there are no home runs, the upside is contractually capped. Outperformance is achieved by avoiding losses, in particular catastrophic credit losses. In sum, the key to successful credit investing is avoiding zeroes.

Volume 2 of Park Square Perspectives explores the art of avoiding the zeroes.