Mary Pugh of Pugh Capital Management by Thom Hartle
ARTICLE SYNOPSIS ...Mary Pugh of Pugh Capital Management by Thom Hartle
The year 1994 will be known for the debacle in the derivatives markets. But what are these instruments that seem to have left a number of money managers holding the proverbial bag? To answer this question and others, we spoke to Mary Pugh, former senior vice president of Washington Mutual Savings Bank and now a fixed-income money manager in Seattle, WA. We spoke to Pugh about the mortgage-backed securities market, how it works, what the instruments derived from mortgages are all about and more.
Q: Mary, let's start with your background.