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Legg Mason Head Likes Distressed Debt, Cautious On Equities
04/03/2009
Harry O'Mealia, ceo of Legg Mason Investment Counsel, is putting his clients' money into distressed debt with the help of an outside manager, and is also staying underweight on equities internationally, domestically and in emerging markets.
In an exclusive interview with PAM, Baltimore-based O'Mealia said he is seeing value in distressed debt because of its juicy returns, as it can be extremely profitable when run by a solid manager. O'Mealia is also coaxing clients to look ...
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