Applying Milken’s Junk Bond Theory To Animation
Michael Milken made a fortune with junk bonds back in the 1980s. His theory was so simple, it was almost too good to be true except that it wasn’t. Basically, a junk bond is one that carries a high risk of default, i.e. the borrower doesn’t pay you back. Milken however, perceived that if you buy enough junk bonds, the ones that do pay you back will more than cover the losses from those that don’t. His plan worked far beyond his expectations and he quickly became the so-called ‘Junk Bond King’ before being brought down for some insider trading.
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