16th Amendment's Pruskowski Sees Opportunities in Credit

James Perskowski discusses his transition from BlackRock to a boutique firm, highlighting the advantages of nimbleness and flexibility in smaller firms. He addresses current market challenges, such as low issuance and credit concerns, and explores opportunities from private capital in the muni market.

What is one advantage James Perskowski mentions about working in a boutique asset management firm compared to a larger one like BlackRock?

• Access to more capital

• Greater flexibility and ability to be nimble

• Higher salaries for employees

• More established brand recognition

How does the municipal market differ from the corporate market according to James?

• It is less regulated

• It offers higher yields

• It has a regional-based system

• It is more global in nature

What challenge is highlighted in the municipal market during a low issuance period?

• Higher interest rates

• Lack of skilled labor

• Increased competition from international investors

• Difficulty in repositioning in the secondary market

What does James identify as a growing opportunity in the municipal market?

• Expansion of public infrastructure

• Increased government subsidies

• Alternative space from private capital

• Rising interest rates

What is the impact of the peak rating cycle on certain credit sectors?

• Stable economic conditions

• Increased issuance of bonds

• Deteriorating rate of change

• Improved credit ratings