The young guns are out and they're looking to bag some big investing game.
Three executives who Institutional Investor recently tabbed as the ones to watch in the under-50 crowd on Wall Street spoke Wednesday at the Delivering Alpha conference presented by the magazine and CNBC.
And they've got plenty of ideas for the future.
Josh Birnbaum, 41, CIO at Tilden Park Capital Management, is investing in mortgage putbacks, which involve originators being forced to buy back mortgages from the holder. They happen usually in cases of fraud or deceit, and Birnbaum believes there is opportunity—$50 billion worth.
He called it "one of the largest settlement opportunities to come out of the" financial crisis, which was precipitated in large part by fraudulent and reckless bank lending. Investors in mortgage bonds have been demanding restitution on the loans, and regulators have come down hard on financial institutions involved.
"We read in the paper almost every day about some new big settlement that banks are paying related to the crisis," Birnbaum said. "Mortgage putbacks are a great angle, a great way of playing the settlements."