Throughout the decades the financial industry has been continuously advancing and perfecting itself. It has also become complicated to a level where true value is often confused with «fair» value. Nowadays fair value is a common value denominator, but the truth is...it cannot be. There is too much bias from the sell-side to make it fair. We at Schildershoven have always been bringing fair values to true values by relying on common sense, because with common sense we make finance truly work. Schildershoven is a Netherlands-based institutional investor. Since 1997 we have been actively trading in variety of financial instruments and issuers across international capital markets, both over-the-counter, and on exchanges. Fixed income securities have always been the central part of the Schildershoven's investment activity. Dynamic management of the proprietary portfolio, balanced between quantitative and fundamental analysis, helps us exploit inherent market pricing inefficiencies and achieve consistently remarkable performance in different areas of fixed income, ranging from utilization of complex structured products to investments in high yield and distressed debt. For years of active in-house portfolio management, the firm's annual trading turnovers in Eurobonds alone have repeatedly peaked at over USD 5 billion. Member of EMTA