Boaz Weinstein, the founder and CIO of Saba Capital, is regarded as one of the foremost credit traders in the world. He made news when he harpooned the so-called London Whale, getting on the scorned but eventually victorious other side of Bruno Iksil’s massive derivatives trade. His reputation as a brilliant and unorthodox player in high yield (and nowadays not-so-high yield) is deeper, widespread, and well-deserved. Here, he explains his thinking on how to take advantage of historically low levels of volatility, the seeming deafness of the credit market to nightmarish equity signals, and getting into the closed-end fund business.
Octavian Report: Is this the lowest you’ve ever seen volatility in the market?
Boaz Weinstein is the founder and CIO of Saba Capital.