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Tag: private equity

private equity

Season 3, Episode 18: Bubbles Lurk in Sovereign Debt, Financial Engineering

With Michael Ehrlich, Director of Leir Research Institute at New Jersey Institute of Technology

Michael Ehrlich, director of the Leir Center for Financial Bubble Research at the New Jersey Institute of Technology, joins the podcast to discuss his views.

Dr. Ehrlich has identified two areas of concern: sovereign debt and financial engineering.

This is not his only area of interest however, as Dr. Ehrlich is passionate about early-stage venture/angel investing, which guides the discussion in the second half of the episode.

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Season 2, Episode 4: Private Credit is Fentanyl, With Gregory Obenshain, Verdad Capital

“Investors are hooked, and it won’t end well”

Gregory Obenshain, director of credit at Verdad Capital, joins the podcast to discuss his concerns about private credit investing.

Obenshain and Verdad Capital founder Dan Rasmussen recently penned an article in Institutional Investor: “High-Yield Was Oxy. Private Credit Is Fentanyl.” Subtitle: “Investors are hooked, and it won’t end well.”

In this 29-minute conversation, Obenshain tells listeners about his thesis.

Content:

  • How private equity has become the dominant player in this market (4:02)
  • The lending is a lot more dangerous and indeed riskier than the high-yield bond market (7:39)
  • Obenshain’s background (15:03)
  • Historical returns for private credit investments (19:50)
  • Ramifications of new lenders entering the market (22:22)
  • Potential timing of an unwind (24:17)
  • More constructive ideas for investors (25:27)

Highlights From Our YouTube Channel

For more information on the guest and his firm: VerdadCap.com

Not intended as investment advice.

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Season 1, Episode 10: Timeshare Companies: Unloved, Misunderstood, Underappreciated

Featuring hedge fund manager Michael Kahan of North Peak Capital

Shares of timeshare companies have not done particularly well lately. That is understandable considering the options investors have elsewhere as well as the state of the economic cycle in the US.

This week’s guest, Michael Kahan of North Peak Capital Management, likes one particular stock in the sector. Content: The value proposition (2:33), the stock (3:15), drivers of revenue growth during recessions (6:00), more on the hedge fund (16:30), entry points (19:35).

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