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17 results for “equity vs endorsements”
...of equity that are more downside protected. So not swinging for the 20% rate of return per year, but low to mid teens, net rates of return that give you more downside protection, things that look and smell like debt but have enough equity levers to g
56:14 / 57:19
from transcript56:14 – 57:19
...true equity return and public equity is a discounted or a lower expected return. The reason for that is simple, I think. There's no free lunch in this world. I think we can all agree on that. And you pay something for the luxury of in a public securi
29:13 / 30:17
from transcript29:13 – 30:17
...equity, right? So it's $300,000,000 mez deal on a $30,000,000 co invest alongside sponsor XYZ. That's the most common place. But in a lot of our non sponsored deals, what we find is we're the only real institutional capital because your counterpartie
41:08 / 42:22
from transcript41:08 – 42:22
“VC says advisors-for-equity is rarely a good idea - here's why”
...advisers for equity come into play. When is this a good idea and when might this be a mistake or get thrown around too easily? I'm laughing because it's like, I think it's rarely a good idea. Okay. T
18:19 / 18:56
contrarian take18:19 – 18:56
...true equity return and public equity is a discounted or a lower expected return. The reason for that is simple, I think. There's no free lunch in this world. I think we can all agree on that. And you pay something for the luxury of in a public securi
29:13 / 30:18
from transcript29:13 – 30:18
...equity over time beat the market? And there's a pretty simple trade off at a high level, which is you can access the market at much lower cost. So private equity has to make up for the fees. If you constructed it similarly, so let's say it's US buyou
13:31 / 14:44
from transcript13:31 – 14:44
...equity universe would continue to offer compelling risk adjusted returns. That's a point about which I agreed with him totally. I think there's logic to that. It's interesting to me, in fact, that a lot of investors when they talk about private versu
28:25 / 29:32
from transcript28:25 – 29:32
...equity enters the wealth management channel and seeks to access four zero one k plans. I imagine we know what Warren thinks. High fees and extra expenses will doom private equity investors. A lot of outside factors could have impacted the result of o
3:51 / 4:51
from transcript3:51 – 4:51
...private equity. Talk us through that, and what is your thought process behind that bet? So we'll leave aside the old one that I made with Warren Buffett a long time ago. That was hedge funds against the market. And I had a dog in the fight then. I wa
12:49 / 13:51
from transcript12:49 – 13:51
...equity universe would continue to offer compelling risk adjusted returns. That's a point about which I agreed with him totally. I think there's logic to that. It's interesting to me, in fact, that a lot of investors when they talk about private versu
28:25 / 29:32
from transcript28:25 – 29:32
...Private equity is one and a half times. Assuming positive returns over a decade and an ROA above the cost of capital, leverage would boost private equity returns relative to the market. Size. Private equity owned businesses are smaller than those in
5:19 / 6:21
from transcript5:19 – 6:21
...equity assets, it's pretty amazing. It's definitely different to how it used to be. But just on the PE point, you described, you know, your sort of research process Yes. Earlier, and you gave an example in the case of biotech. But if you're researchi
23:56 / 25:00
from transcript23:56 – 25:00
...strategies could be long or long short. Equity strategies could be private as well as public. And just because it's a private equity strategy doesn't make it some magical, mystical alternative beast. And just because it's a public active equity strat
37:30 / 38:33
from transcript37:30 – 38:33
...equity in these businesses in front of your debt, typically, loan to values today are running in the mid forties. If you're aligning with some of whom you think are the smarter private equity investors in The US and you're lending senior secured debt
15:45 / 16:51
from transcript15:45 – 16:51
And when they can, using a CV type transaction to hold on to an asset to grow their fee related earnings and, in effect, create inorganic AUM growth is a powerful incentive, especially when you're not sure the old rules apply where if I deliver a gre
31:56 / 33:19
from transcript31:56 – 33:19
...strategies could be private as well as public. And just because it's a private equity strategy doesn't make it some magical, mystical alternative beast.
36:45 / 37:52
from transcript36:45 – 37:52
...are sell equity forever or take on a loan. That's it. And I'm not sure putting a loan on a firm that does leveraged buyout is an incredibly stabilizing thing. It's probably not a good idea. Unless you're huge, it's the next 800 firms that are not wel
42:47 / 43:47
from transcript42:47 – 43:47
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