Goldman Basket Weavers Advise Buying Less-Liquid Stocks
This article is for subscribers only.
“Liquidity” is darn near a sacred word on Wall Street, almost as important as “Hippocratic” is to doctors or “high school football” to Texans.
The ability to sell an asset quickly at a fair price is often considered an important attribute of an investment. You only have to go back a few years to the last financial crisis and ask owners of obscure debt derivatives how everything turned out for them.