ExcessDefaults
3.4K posts

ExcessDefaults
@ExcessDefaults
https://t.co/modbIG4QFM
Katılım Mayıs 2023
437 Takip Edilen1.9K Takipçiler

Wonder what happened here w jay kim departure / reshuffle. Launching w canyon seems like a step down from what he called his life’s work.
canyonpartners.com/canyon-further…
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Nice scoop by BBG about this mess. On one hand, it shows the difficulties of being a non-bank in a bank business as well as the reality of M&A risks in acquiring human capital businesses. On the other hand, that's why this business was sold for zero dollars. $APO
ExcessDefaults@ExcessDefaults
Jay Kim out at Atlas SP... efinancialcareers.com/news/jay-kim-c…
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@Cap1talCap1tal @tangentstyle capcap always short all my longs and printing
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@ExcessDefaults Full diffusion but I had to fix an issue with token acceptance. Now we're hitting reference quality at 250tok/s
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@yenoms @BDCPublications 0% chance madcap parent is sold rn
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@BDCPublications They have emphasized “shareholder value” repeatedly.. so not sure how a non traded BDC acquirirer will jive.
My sense is Apollo is protecting their brand.. which is much stronger on the private side.. and they will keep midcap for private widgets
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BDC Reporter Sighs: Another poor day for BDC common stocks, even after the Fed held rates (a few months ago, many were expecting a rate cut around now, so this is good news of a sort). The sector's ETF $BIZD fell (2.22%) on below-average volume. A half dozen or so BDCs reached new 52-week lows. Only 6 stocks were unchanged, or in the black; 39 were in the red. Over at the BDC Reporter, we looked through all 45 public BDC stocks and found only 4 worthy of a BUY, and even that seems generous in these conditions.
GIF
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@luyiest lol yeah was odd he made no mention, wonder why.
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@ExcessDefaults And talking my book, but hey, there are some insurers who are buying back at a reasonable clip too... cough, $JXN, cough
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Decent discussion only bc he had that nut job on the show prior open.spotify.com/episode/2wwWvu…
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@tangentstyle I was buckled in for the usual value schtick and was really surprised.
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@pejmanjohn I’m a nobody but just really impressed how something “small” over an LLM is a product all of a sudden. Great stuff!
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First Stripe dollars hit different. Instantly emailed the customer to get a chat going 🤘

Pejman Pour-Moezzi@pejmanjohn
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@yenoms @ExcessDefaults First time I have seen this in awhile. Why give away management fees instead of keeping them and running the thing into the ground and selling for close to nothing. Good for them. Actually impressed. Let’s see what those assets are worth
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Kings don’t need public scraps
👑 $ARI 👑
Cc @ExcessDefaults

yenoms@yenoms
@hitsamty this is a major positive transaction for $ARI shareholders, IMO.. We all like to make fun of how illiquid widgets marks are fake and not indicative of value.. well, ARI is getting paid 100% of value (CECL inclusive) and getting instant liquidity..
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