Profile: Arthur Calavritinos

Arthur Calavritinos runs one of the top-performing high-yield bond funds in the US, the John Hancock High Yield Fund. He tells Dalia Fahmy about the investment strategies that he hopes will insulate his investments against the current credit squeeze

Selling wine and vodka to drug dealers and pimps isn't how most fund managers learn about business, but that introduction got Arthur Calavritinos, head of high yield at John Hancock Financial, hooked.

Working in his parents' liquor store as a teenager in Boston's red light district in the rough and tumble 1970s, Calavritinos says he learned a lot about the psychology of "average US consumers" from the customers he served. His customers were not quite average, however: Calavritinos says he was

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