Slowing growth and elevated interest rates are opening the door to fresh opportunities in the special situations world, as companies face growing “time under tension.” Rob Dafforn, chief investment officer of opportunistic credit at Polus Capital Management, joins Bloomberg Intelligence’s Noel Hebert and Sam Geier on this episode of Credit Crunch, part of the FICC Focus podcast. Dafforn dives into the three main investment targets — cyclical losers, secular losers and frauds — along with creditor-on-creditor violence, the management process for a long-short portfolio and much more.