Barry Ritholtz

MARCH 5, 2024

So I switched to be an economics major. I graduated economics with, with a lot of coursework in accounting and finance. What happened over the last year and a half or so is rates went up and valuations went down. Either you have the asset and the credit risk, I would imagine. 00:22:43 [Speaker Changed] E exactly.

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Barry Ritholtz

AUGUST 29, 2023

So a variety of risk meetings, a variety of economic meetings. And you had to take on significant duration risk and credit risk just to earn a couple percentage points. DAVIS: Where international equities, because of valuations, probably 7% to 7.5%. RITHOLTZ: Right. And that’s all sentiment.

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Barry Ritholtz

AUGUST 15, 2023

The challenge is unlike the S&P 500, hedge funds sit in a box that has underlying credit risk from prime brokers. So the credit markets froze. SEIDES: Yeah, I wouldn’t measure it in terms of economic returns. What’s the valuation? It’s just entertainment. RITHOLTZ: Right.

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Barry Ritholtz

FEBRUARY 13, 2023

But there are so many tools at your disposal, and let alone how much duration you’re taking, how much interest, how much credit risk you’re taking, illiquidity, et cetera. And how do you make the decision, I’m not comfortable with this credit risk relative to the return it’s going to throw off?

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Barry Ritholtz

SEPTEMBER 26, 2023

So you have almost a doubling of the interest coupon paid by some of these businesses against the backdrop of c ovid 19 inflation and some of the economic pressures that come with, with those factors. If SS O F R is five plus percent, what do the private credit markets look like for a reasonable borrower, reasonable corporate borrower?

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Barry Ritholtz

MARCH 12, 2024

And up until that moment in time, we didn’t spend a lot of time on credit risk in mortgages. We didn’t really have to model credit risk because that was, that risk was taken by the agencies. But in these private labels, you had the, the market was taking the credit risk.

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Barry Ritholtz

DECEMBER 20, 2022

It’s just a fascinating conversation about looking at the world from both bottoms up and top-down, as well as thinking about what valuations are like, how likely are macro events, the impact you’re getting not just the return on capital, but as famously said in fixed income, a return of your capital. But that’s very helpful too.

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