This is Master's in Business with Barry Redholz on Bloomberg Radio.

This week on the podcast, I have an extra special guest.

His name is Robert Konigsberger and he has a fascinating career in emerging market, opportunistic

and distressed, debt investing.

He started at a small boutique before going to Merrill Lynch and Lehman Brothers and ultimately

launching his own shop called Grammacy Funds Management.

If you're interested in what it's like investing in emerging market debt, how that part of

the investment from it has changed over the decades as the world itself has changed.

He began in South America and Latin America before investing in places like Russia and

China and Turkey.

Fortunately, for them, they were out of Russia long before the most recent invasion of

Ukraine happened.

It's just a fascinating conversation about looking at the world from both bottoms up and

top down as well as thinking about what valuations are like, how likely are macro events to

impact you getting, not just a return on capital, but as is famously said in fixed income,

a return of your capital.

It really is a very, very different approach than what we think of as typical equity investing.

It not only has the advantages of there being inefficiencies, so there's the potential

to generate alpha, but if you do it right, it's pretty non-correlate with probably the

rest of your portfolio.

I found it fascinating and I think you will also.

If no further ado, my interview with Grammacy Funds Management's Robert Konigsberger.

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