--- title: Edition 1 | Michael Lienhard description: Michael Lienhard has been Head of Fixed Income for Cape Capital since 2009. He has established several long-only and non-directional credit strategies and is fascinated by the ever-changing face of the bond market. He regularly plays chess and ice-hockey, a refreshing balancing act. --- [![folioHeaderLogo](https://folio.capecapital.com/hubfs/CD%20files/folioHeaderLogo.svg)](https://folio.capecapital.com/) [![capeCapitalLogoWhite@3x](https://folio.capecapital.com/hs-fs/hubfs/CD%20files/capeCapitalLogoWhite@3x.png?width=1920&height=1197&name=capeCapitalLogoWhite@3x.png)](https://capecapital.com/) ![HERO IMAGE-3](https://folio.capecapital.com/hs-fs/hubfs/HERO%20IMAGE-3.png?width=5760&height=3440&name=HERO%20IMAGE-3.png) ![Peanuts (Mobile)](https://folio.capecapital.com/hs-fs/hubfs/Peanuts%20(Mobile).png?width=1080&height=1920&name=Peanuts%20(Mobile).png) ![Folio logo.](https://folio.capecapital.com/hubfs/CD%20files/folioHeaderLogoRed.svg) [Subscribe](https://share-eu1.hsforms.com/140eT9LvJQeOZVmRzaIReIAfljvm) Edition [Edition 5](https://folio.capecapital.com/edition-5) [Edition 4](https://folio.capecapital.com/edition-4) [Edition 3](https://folio.capecapital.com/edition-3) [Edition 2](https://folio.capecapital.com/edition-2) [Edition 1](https://folio.capecapital.com/edition-1) Edition 1 [Edition 2](https://folio.capecapital.com/edition-2) [Edition 3](https://folio.capecapital.com/edition-3) [Edition 4](https://folio.capecapital.com/edition-4) [Edition 5](https://folio.capecapital.com/edition-5) ![Willard Ahdritz: 'With digital, everyone thought the music industry was dead'](https://folio.capecapital.com/hs-fs/hubfs/Folio%20images/pexels-skitterphoto-675960%201_1280.jpg?width=1100&name=pexels-skitterphoto-675960%201_1280.jpg) Business and Markets ### [Willard Ahdritz 'With digital, everyone thought the music industry was dead'](https://folio.capecapital.com/edition-1/with-digital-everyone-thought-the-music-industry-was-dead) Business and Markets [![Harsh medicine](https://folio.capecapital.com/hs-fs/hubfs/Harsh%20Medicine%20in%20the%20new%20economic%20regime.jpg?width=300&name=Harsh%20Medicine%20in%20the%20new%20economic%20regime.jpg)](https://folio.capecapital.com/edition-1/michael-lienhard-on-harsh-medicine) ## [Harsh medicine](https://folio.capecapital.com/edition-1/michael-lienhard-on-harsh-medicine) Michael Lienhard—Cape Capital’s Head of Fixed Income—searches for opportunity in an altogether painful market environment Arts and Life [![Peanuts: A study in value(s)](https://folio.capecapital.com/hs-fs/hubfs/Peanuts%20by%20Nino%20Miloni.jpg?width=300&name=Peanuts%20by%20Nino%20Miloni.jpg)](https://folio.capecapital.com/edition-1/peanuts-by-nino-miloni) ## [Peanuts: A study in value(s)](https://folio.capecapital.com/edition-1/peanuts-by-nino-miloni) Zurich-born artist Nino Miloni reveals the extraordinary depth hidden inside ordinary objects Impact and Environment [![Could public-private partnerships tackle the energy challenge?](https://folio.capecapital.com/hs-fs/hubfs/Could%20public-private%20partnerships%20tackle%20the%20energy%20crisis.jpg?width=400&name=Could%20public-private%20partnerships%20tackle%20the%20energy%20crisis.jpg)](https://folio.capecapital.com/edition-1/could-public-private-partnerships-tackle-the-energy-challenge) ## [Could public-private partnerships tackle the energy challenge?](https://folio.capecapital.com/edition-1/could-public-private-partnerships-tackle-the-energy-challenge) Frédéric James Gentizon explores the prospect of energy independence and carbon neutrality for a small Swiss community Business and Markets [![‘I couldn’t get a job here today'](https://folio.capecapital.com/hs-fs/hubfs/Cape%20Capital_Alex%20And%20Johan_6060112.png?width=400&name=Cape%20Capital_Alex%20And%20Johan_6060112.png)](https://folio.capecapital.com/edition-1/i-could-not-get-a-job-here-today) ## [‘I couldn’t get a job here today'](https://folio.capecapital.com/edition-1/i-could-not-get-a-job-here-today) Alex Vukajlovic & Johan Holgersson on remaining agile, measuring success and the benefits of hiring exceptional outliers Innovation and Technology [![‘There was no roadmap for this’](https://folio.capecapital.com/hs-fs/hubfs/L1080271-3.jpeg?width=300&name=L1080271-3.jpeg)](https://folio.capecapital.com/edition-1/there-was-no-roadmap) ## [‘There was no roadmap for this’](https://folio.capecapital.com/edition-1/there-was-no-roadmap) Marco Gercke—one of the world’s leading experts in cybersecurity—shares his hacks for staying cyber-secure in an interconnected world Arts and Life [![Two Jimmys for a peanut](https://folio.capecapital.com/hs-fs/hubfs/michal-parzuchowski-U8n_O7rEq7o-unsplash.jpg?width=300&name=michal-parzuchowski-U8n_O7rEq7o-unsplash.jpg)](https://folio.capecapital.com/edition-1/two-jimmys-for-a-peanut) ## [Two Jimmys for a peanut](https://folio.capecapital.com/edition-1/two-jimmys-for-a-peanut) As Europe faces macroeconomic shocks, and geopolitical crises, William Raynar asks how two seemingly disparate figures of the twentieth century can shape our understanding of the present [![Cape Capital logo.](https://folio.capecapital.com/hubfs/capeCapitalLogoWhite.svg)](https://capecapital.com/) [![Folio logo.](https://folio.capecapital.com/hubfs/folioFooterLogoWhite.svg)](https://folio.capecapital.com/) - [Contact](https://capecapital.com/privacy-policy/#Connect-with-us) - [Privacy Policy](https://folio.capecapital.com/privacy) - [Cookie Policy](https://capecapital.com/cookie-policy/) - [Terms & Conditions](https://capecapital.com/disclaimer/)