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Meshulam Riklis has written:

'Expansion through financial management' -- subject(s): Case studies, Corporations, Finance

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Meshulam Riklis was born on December 2, 1923, in Istanbul, Turkey.


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The term comes from a conversation between financier Michael Milken (who got filthy rich selling them) and billionaire Meshulam Riklis (who got filthy rich issuing them). In the old days, high-yield bonds were called "fallen angels"--investment-grade paper at issuance that fell from A-rated (investment grade) to low-B and C-rated (speculative grade) due to difficulties at the issuing company. The paper Riklis issued (and still issues) started out as speculative-grade bonds. Milken looked at what he was doing and said something like, "Meshulam, these are junk!" Riklis replied, "yes, but they pay interest and they sell at a discount."


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