Time Horizons, Liquidity Mismatches And Investor Expectations

Time Horizons, Liquidity Mismatches And Investor Expectations by StockResearch by Jeffrey Miller, Partner, Eight Bridges Capital Management Can you teach me ’bout tomorrow  And all the pain and sorrow running free  ‘Cause tomorrow’s just another day  And I don’t believe in time Hootie & The Blowfish – Time Just a few days after writing our last letter about the warning sign that the high-yield market was flashing, Third Avenue went and closed an open-ended mutual fund to redemptions because it, essentially, couldn’t find reasonable bids for its bonds. In the aftermath, some commentators have noted that this fund was an…