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17 results for “reputation risk”
...that is not being taken into account today. So I'll give you an example of something. One of the things that we recognize is that not every deal in a portfolio, even the ones that do well, are straight up into the right. When we're evaluating a manag
48:00 / 49:09
from transcript48:00 – 49:09
...risk, right? Is that you have to be a forced seller at a bad time. We set ourselves up so that it's really hard for that to happen. So big existential risks of kind of how we get wound down or something. It's just we think about it a lot, but I don't
59:16 / 1:00:19
from transcript59:16 – 1:00:19
...risks are you worried about? Let's set aside the geopolitical. We could talk about that all day. The big risk that I see in markets that I think is ignored is the risk of illiquidity, and I see it in all sorts of places. I see it with private equity
38:11 / 39:41
from transcript38:11 – 39:41
...risk in the credit markets? I think that liquidity will be unbelievably important in this credit contraction to dictate good outcomes. So, we are reserving liquidity in a way that we probably didn't feel that we needed to in the past. There's always
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from transcript59:57 – 1:01:04
...risk. A major world war that engulfs The United States, that would be considered a risk. A major, major fundamental currency decline,
30:48 / 31:58
from transcript30:48 – 31:58
...is one risk management instrument that is more or less always liquid and always tradable, and having expertise to use that instrument is really important. This is why you put a monoline private equity guy out there in Mexico who just knows how to do
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from transcript44:58 – 46:01
...risks that are increasing within the overall system. The real risk that I think is rising is that with all of these multi manager shops that have scaled beyond belief, really, that are highly leveraged, the way that their risk management approach wor
38:55 / 40:08
from transcript38:55 – 40:08
...risk. There's shortfall risk, which is the probability that over time you will just not meet your liability stream. So you need to have a portfolio that gives you a fighting chance to get there over long periods of time. And that's just a candid conv
10:35 / 11:40
from transcript10:35 – 11:40
...risk management. Like, the wolf's always at the door. But I am a big believer in Nassim Taleb's definition of risk, probability, and severity. When we think about investing in China now, what's the probability that you're going to lose all your money
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from transcript45:42 – 46:48
...risk. How do you define risk in the context of behavior that's the same as ever? My basic definition of risk is something that you did not anticipate that's gonna force your hand in a bad direction between now and the end of your time horizon. That's
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from transcript30:03 – 31:10
...risk, or what I'll call with clients embarrassment risk, which is how far behind benchmarks, peers, whomever are you willing to be at any given time? That one is something that is generally unknowable in advance. It's very hard for people to put a nu
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from transcript12:03 – 13:12
So the funds that we have in the retail channel and credit are not surprisingly the largest ones that we manage and are growing the quickest. I think if you're smaller, you have to come with something that looks really differentiated because a lot of
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from transcript21:01 – 22:10
...risk management? One way to think about it is taking this developed market, emerging market, dichotomy. In developed markets, you would say, what's my value or risk? What's one standard deviation, two standard deviations, blah blah blah. In emerging
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from transcript43:31 – 44:31
...risk as well given the rapid growth of the credit business and the relatively high credit risk profile of the borrower base, I think it is fair to be concerned about blow up risk, especially in an emerging market where economic conditions tend to be
45:46 / 47:07
from transcript45:46 – 47:07
...horizon risk have been at the forefront of what we're focused on. And then moving us into this frame of portfolio navigation, which is actually once you start thinking about draw downs and recoveries, you really start wanting to have much more sophis
56:10 / 57:17
from transcript56:10 – 57:17
Why would it be the case that the private credit has less volatility than public other than infrequent marks? It's quarterly marks, and it's mark to model versus the vagaries of the markets that don't necessarily make sense. Over time, I think public
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from transcript21:45 – 22:47
...risk. That is really about trying to immunize a portfolio to shock. And so that's hard to do. It can be expensive. It can require huge investments in data and technology to really do it well to avoid when the SVB crisis hits, you had all your hedges
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from transcript53:14 – 54:18
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