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Hedge Fund Manager Todd Westhus Recommends Betting Against At&t Bonds

by cnbc.com posted 1year ago 154 views
Olympic Peak's Todd Westhus recommends shorting AT&T bonds. : AT&T "has a ton of debt," he said Wednesday on CNBC's "Squawk Box." "This is a very mature business. Revenues have been declining." Shorting is a trading strategy that involves selling a borrowed asset with a view that it will drop in value and the asset can be bought back later at a lower price. In his presentation for the Sohn Tel Aviv conference Wednesday, Westhus said AT&T added $125 billion in additional debt to its balance sheet since 2007.

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