Wayne Dahl, Co-Portfolio Manager, Oaktree Capital Management

The conversation explores strategies for managing risk and generating returns in complex financial markets, particularly within credit. Wayne Dahl, Co-Portfolio Manager of Global Credit Strategy at Oaktree Capital Management, shares his insights on navigating various market conditions, emphasizing the importance of avoiding large losses and focusing on credit fundamentals over macro forecasting. He highlights residential mortgage-backed securities and shorter-duration high-income instruments as attractive areas for balancing yield with risk control. The discussion touches on the impact of AI on software valuations, the energy market's uncertainty, and the significance of diversification across geographies and sectors. Ultimately, the conversation underscores the need for patience and adaptability in fixed income investing.