Archive

2026

March

2026-03-10 Kings Don't Buy Flow Pt. 3 - The Cayman Tail

2024

July

2024-07-07 Trading Complexity for Capital Intensity in Life Insurance

June

2024-06-27 Kings Don't Buy Flow

April

2024-04-07 1Q24 Summary

March

2024-03-09 A Quick Base Hit

February

2024-02-20 Fireworks or Steady Calm?

January

2024-01-12 4Q23 Summary

2023

December

2023-12-21 House of Brindle
2023-12-02 3Q23 Summary

October

2023-10-28 Ignore the Past

September

2023-09-18 Sifting Through the Pile

August

July

2023-07-06 Future Fallacy
2023-07-05 2Q23 Summary

June

2023-06-30 Home Purchase Post-Mortem
2023-06-14 Byproduct of Yield Prioritization
2023-06-05 Private Credit: The Answer to All Problems

May

2023-05-19 The Plight of the Millennial Homebuyer
2023-05-18 Down Under, Portuguese Edition
2023-05-15 More M&A
2023-05-12 Post Mortem(s)
2023-05-08 The Portcos Are Alright
2023-05-01 On Finding Passion

April

2023-04-23 Puttering Around
2023-04-05 Money Is In The Tails
2023-04-04 Investment Decisions Are Like Snowflakes
2023-04-03 1Q23 Summary

March

2023-03-20 The Unknown Unknowns
2023-03-18 A Look In The Mirror
2023-03-14 Prepare The Umbrella Before It Rains
2023-03-08 Bridgewater Update

February

2023-02-23 Narrative vs Data: Buffett Edition
2023-02-22 Deal With the Devil

January

2023-01-10 A De-REITing Business Model

2022

December

2022-12-28 A Look Forward to 2023

November

2022-11-16 Is SPG a Monster?
2022-11-06 So What's The Deal With Apollo's AAA?

October

2022-10-26 The Best Charts
2022-10-24 Don't Buy The Dip - China Edition
2022-10-14 Boaz's Curious Lure of Fat Dividends

September

2022-09-30 Market Carnage Check-In
2022-09-24 The Issue with Dividend Focused Equities
2022-09-23 CLOs for the Little Guy
2022-09-13 An Investment's Bias to The Chaos Factor
2022-09-12 Gobbled Up More Leveraged Credit
2022-09-01 Future Defaults in Leveraged Loans

August

2022-08-28 Cleaning Signal and Reaching for Why
2022-08-26 The Credit Daisy Chain
2022-08-25 MFIC, MidCap, and Woodmont
2022-08-23 CLO Rabbit Hole
2022-08-20 The More Time that Passes, the More the Spark of Something Amazing Fades, and the Better the Investing Gets
2022-08-16 Credit Recovery
2022-08-13 Athene and Global Atlantic
2022-08-10 First Half Alts Performance
2022-08-08 Carlyle Falling
2022-08-07 Pioneering Portfolio Management 2
2022-08-06 Jobs Jobs Jobs
2022-08-05 What Recession? Earnings Edition
2022-08-05 Take-Under
2022-08-03 More Bridgewater
2022-08-02 Up The Quality Curve
2022-08-01 One Door Closes

July

2022-07-31 Kashkari Wrench Throwing
2022-07-29 Ares / Ladder Commentary
2022-07-28 Locked Financing Markets
2022-07-27 A Good Day for a Hike
2022-07-26 The Big House
2022-07-25 Canyon POV
2022-07-24 Life Comes at You Fast
2022-07-22 More Oaktree
2022-07-21 Rate of Change
2022-07-19 True Value
2022-07-18 Good Yield vs Fool's Yield
2022-07-17 Peak Prices?
2022-07-16 EU Asset Ramp
2022-07-15 New Allocation
2022-07-14 Asset Liability Management
2022-07-13 Strike Zone / Twitter
2022-07-12 Rate Expectations Update
2022-07-11 Housing, Man
2022-07-10 Some IG Credit
2022-07-09 Sri Lanka Unwind
2022-07-08 Is It Working?
2022-07-07 1H 2022 Prints
2022-07-06 Incompetence
2022-07-05 The Turn
2022-07-03 HY Spreads
2022-07-02 Go Forward Returns

June

2022-06-30 Yield Hogging
2022-06-29 More Crypto Insolvency
2022-06-28 State of Credit
2022-06-27 Vultures Gobble
2022-06-26 Cash is Not Trash
2022-06-25 JXN Examined
2022-06-24 Passed to the States
2022-06-24 Bye Chi
2022-06-22 Deeply Insolvent
2022-06-21 Snake Oil
2022-06-20 Sleeping Giant?
2022-06-19 Mile Wide
2022-06-18 KKR Mid Year Update
2022-06-17 A Tale of Two
2022-06-16 De-Levering
2022-06-15 Levered Lending
2022-06-14 Sun Through Clouds
2022-06-13 Liquidation Day
2022-06-12 Speculative Money
2022-06-11 More Kohl's
2022-06-10 Brookfield PE for Retail
2022-06-09 Bolt it On
2022-06-08 Watching Housing
2022-06-07 The Minnow and the Whale
2022-06-06 Transformation
2022-06-05 Middle Market Lending
2022-06-04 Value Star
2022-06-03 The Vertical Integration of Private Markets Investing
2022-06-02 Melting Ice
2022-06-01 Duration Matching is No Cakewalk

May

2022-05-31 The Future
2022-05-30 Back in the Saddle
2022-05-15 Patria Rising
2022-05-12 Low Tide

April

2022-04-29 Changing Cyclicality
2022-04-28 Carvana
2022-04-27 Your Competition
2022-04-26 Musk x Twitter, End Game
2022-04-25 Grab the Popcorn
2022-04-24 Last to First?
2022-04-23 More Divergence
2022-04-22 Out of Range
2022-04-21 Big Reputation
2022-04-20 Rowan & Rubenstein
2022-04-19 Divergence
2022-04-18 Dear Bill
2022-04-16 DJ D-Sol Commentary
2022-04-15 Real Estate Rotation
2022-04-14 Twitter x Elon Musk
2022-04-13 Rates and Alts
2022-04-12 Kohl's and Sri Lanka
2022-04-11 Company Visit
2022-04-10 Changing the Guard
2022-04-09 Forecasting
2022-04-08 On the Front Foot
2022-04-07 Wax On Wax Off
2022-04-06 More Debt
2022-04-05 Country Music
2022-04-04 Apollo Fundraising Tempo
2022-04-03 Pacific Current Valuation
2022-04-02 Pacific Current Group
2022-04-01 Atlas Corp Investor Day

March

2022-03-31 What's the Right Multiple?
2022-03-30 Negative Leverage
2022-03-29 Leave The Party Early
2022-03-28 Take a Pass
2022-03-27 Sovereign Bonds
2022-03-26 Private Market Reality
2022-03-25 Housing
2022-03-24 Going Deeper
2022-03-23 Off Piste
2022-03-22 Brazil / Trump Transition Redux
2022-03-21 Things Climbing
2022-03-19 More Fixed Income
2022-03-18 GTLB Volatility
2022-03-17 My Own Game
2022-03-16 C-Corp Bumps
2022-03-15 Same but Different
2022-03-14 Getting the Odds on Your Side
2022-03-13 What of China?
2022-03-12 Goals
2022-03-11 Past and Future
2022-03-10 Gone Fishing
2022-03-09 Market Calls and Platitudes
2022-03-08 Rumblings
2022-03-07 De-Globalization
2022-03-06 War and M&A
2022-03-05 Berkshire Letter
2022-03-04 Solvency 2
2022-03-03 Probabilities Widening
2022-03-02 Growth as an Input or Output
2022-03-01 Rate Expectations

February

2022-02-28 Brazilian Interest Rates
2022-02-27 The Left Tail
2022-02-26 Blue Sky
2022-02-24 Mayhem
2022-02-24 Gone Fishing
2022-02-22 Put Your Nose Down
2022-02-21 Investing in an Inflationary Environment
2022-02-20 Atlas Q4 Earnings Thoughts
2022-02-19 Homebridge Mortgage Payments
2022-02-18 Patria Q4 Earnings Thoughts
2022-02-17 Confidence and Stocks
2022-02-16 Zooming Out
2022-02-15 Apollo Q4 / FY21 Earnings Thoughts
2022-02-15 TDM Growth on the Tech Crash
2022-02-14 Petershill Partners Tepid Market Reception
2022-02-12 Apollo Q4 Earnings
2022-02-11 "Inflation Nation"
2022-02-10 Business Model Evolution
2022-02-09 Learning in Public
2022-02-08 The Folly of Proprietary Deal Flow
2022-02-07 Management Fees & Securitizations
2022-02-06 Patria Investments 2022 Outlook
2022-02-05 Coping with the Future (and our inability to know it)
2022-02-04 Public Markets - Feature or Flaw?
2022-02-03 Provenance Updates
2022-02-02 Keeping It Simple
2022-02-01 Steak + Sizzle

January

2022-01-31 Opportunity Down Under?
2022-01-30 Trimming the Fat
2022-01-29 Lemonade from Lemons
2022-01-28 Wading In
2022-01-27 Sold! Goodbye SF.
2022-01-26 Helios Looking at Fintech
2022-01-25 Chris Douvos on Focus
2022-01-24 Oppy on APO
2022-01-23 Crypto Washout
2022-01-22 Commentary on Brazil
2022-01-21 Thoughts on Downdraft
2022-01-20 Coventure on How to Break from the Pack in VC
2022-01-19 Third Point's Public Vehicle
2022-01-18 Dan Kimerling on VC focus
2022-01-17 Micheal Vranos on Asset Manager Business Models

2021

October

2021-10-27 2021 Apollo Global (APO) Investor Day Conclusions