Cohanzick Management, LLC
427 Bedford Road, Suite 230
Pleasantville, NY 10570
(914) 741-9600
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Short Biased Fixed Income

 

Short Biased Fixed Income: Focus on credits that are deteriorating, have inefficient capital structures and/or where securities are overvalued. Short bonds of companies that pursue shareholder-friendly activities such as increased dividends, aggressive share repurchases, fully-priced acquisitions and spinoffs, or are expected to experience deterioration due to declining secular trends, failing business models or economic weakness. At times, the strategy may incorporate long equity positions of the same issuers in order to benefit from stock appreciation resulting from these catalysts. Preference is given to shorting in the cash market, but credit default swaps may be used in certain circumstances. Long equity positions are most often expressed through exchange-traded equity option strategies given the ability to create asymmetric return profiles via equity options, but may also be effected through long common share purchases.

All of our investment strategies are speculative and involve significant risk including, without limitation, the loss of principal.