The Sharpe Angle: Canyon Partners' co-CEO on why the economy could absorb a downturn

Even if the economy faces two quarters of contraction — the traditional definition of a recession — Josh Friedman thinks it's strong enough to withstand the slowdown. Friedman is co-founder, co-chairman, and co-CEO of the $26 billion credit giant, Canyon Partners. He sat down with Leslie Picker to explain why he believes the markets "can tolerate a little bit of stress." While a stronger economy means fewer opportunities for distressed investors like Friedman, he said his firm is prepared with "comprehensive shopping lists of securities" in other areas like secondaries, loan originations, and securitized packages.