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Tag: private credit

Opportunities in Credit Markets with Tom Carney, Weitz Investments (Szn 5, Episode 26)Cover art, podcast season 5, episode 26

Opportunities in Credit Markets with Tom Carney, Weitz Investments (Szn 5, Episode 26)

Published October 31, 2023

This episode was released to premium subscribers on Oct. 26 without ads or announcements. More information about premium subscriptions is available on our Substack or Supercast.

Tom Carney, co-head of fixed-income at Weitz Investments, joins the podcast to discuss his (perhaps surprisingly) optimistic view of bond and credit markets.

Content Highlights

  • Carney’s views on the bond market. Interest rates have created a much-improved, encouraging environment for investors (1:33);
  • Opportunities include the non-corporate bond market, specifically the asset-backed securities market (5:38);
  • The guest has a unique view into consumer lending. There are defaults, but not more than usual (10:37);
  • Discussion of the mortgage-backed securities market. There too, defaults are not particularly prevalent (13:05);
  • How big of a concern is the Fed? (24:25);
  • Background on the guest (29:57);
  • What about his concerns facing markets at present? (38:09).

For more information on the guest, visit the website WeitzInvestments.com.

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

Published August 3, 2021

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.

MoreSeason 3, Episode 18: Bubbles Lurk in Sovereign Debt, Financial Engineering
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Season 2, Episode 4: Private Credit is Fentanyl, With Gregory Obenshain, Verdad Capital

Published February 11, 2020

“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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