John Addeo
Make the most of high-yield liquidity: it won't last for ever, says the portfolio manager at MFS Investment Management in Boston. Interview by Dalia Fahmy
John Addeo doesn't mind poor balance sheets. In fact, he likes them. "Companies with good businesses and bad balance sheets are one of my favourite things in the world," says the 44-year-old portfolio manager in charge of high-yield investments at MFS Investment Management.
At a time when companies have so much debt on their balance sheets, he explains, a smart portfolio manager can find value if he can spot a company committed to reducing its debt - an ability which has powered his strong
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