In Episode #349, Martin S. Fridson, CFA, chief investment officer at Lehmann Livian Fridson Advisors LLC, is regarded as one of Wall Street's most thoughtful and perceptive analysts and has been dubbed "the dean of the high yield bond market". In a wide-ranging interview, he discusses a number of issues, including the investment grade and the high yield credit markets, how to correctly forecast the default rate, and how the leveraged buyout market has evolved since the 1980s.