Related by context. Frequent words. (Click for all words.) 67 highly leveraged 61 levered 60 overleveraged 54 leveraged 53 deleveraging 49 mispriced 48 deleverage 48 Junk bonds 48 illiquid 47 monolines 47 unleveraged 47 recapitalized 47 balance sheet 45 undercapitalized 45 optionality 45 collateralised 44 cyclical 44 ratings downgrades 44 liquidity 44 ample liquidity 44 attractively valued 44 geographically diversified 44 balance sheets 44 mean reversion 44 BDCs 44 preferreds 43 NLY 43 illiquidity 43 underlying fundamentals 43 cyclical downturn 43 synthetic CDOs 43 attractive valuations 43 rating downgrades 43 valuation multiples 43 Cyclical 43 shorting 43 MLPs 43 subprime debacle 43 LBOs 42 EMs 42 securitization 42 rerating 42 REITs 42 securitized 42 muni bond 42 outperformance 42 geographic diversification 42 inverted yield curve 42 securitized loans 42 cashflows 42 cash flows 42 ETFC 42 downgrades 42 inherently unstable 42 equity 41 attractively priced 41 hedge funds 41 Tim Ghriskey chief 41 Negative Rating Outlook 41 headwinds 41 bearish 41 counterparty risk 41 riskier 41 reflation 41 Buybacks 41 cash flow 41 convertible arbitrage 41 CLOs 41 risk premia 41 riskless 40 overextended 40 volatility 40 unhedged 40 underinvested 40 Downgrades 40 valuations 40 JPM 40 Leveraged 40 leveraged buyouts 40 BXP 40 creditworthy 40 technically insolvent 40 arbitrage 40 Ian Nakamoto director 40 broadly diversified 40 valuation metrics 40 CDS spreads 40 cyclicals 40 DBRS 40 unsustainably 40 CDOs 40 deflationary 40 richly valued 40 overvalued 40 overhang 39 unsecured debt 39 toppy 39 WAYNE McCURRIE 39 underpriced 39 risk averse 39 debt maturities