from Zero Hedge
While the Reddit Raiders have made headlines this past six to nine months by destroying hedge fund short-sellers, crushing options traders, and blowing the minds of fundamental-based analysts; there is another group of investors that has suffered quietly behind the scenes.
Distressed credit investors have long had to have thick skins – taking criticism as predators, even as they sometimes rescue firms no one else will touch and generate returns for pensions, endowments and foundations.
Opportunities to buy on the cheap were rapidly evinced by The Fed last March when it took the unprecedented step of entering the corporate bond market…