Debt Investors' Double Burden
Wall Street Journal December 12, 2006
By Gregory Zuckerman and Michael Hudson

Janet Tavakoli, who advises bond investors, anticipates problems for other areas of the credit markets with exposure to borrowers with less-than-stellar credit histories, such as parts of the credit-card market, manufactured housing or junk bonds. She says that is because hedge funds and other investors often rely on investment models that encourage them to sell one risky asset class when they see other risky asset classes doing poorly.

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