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Value After Hours 05 18: Michael Kao, Urban Kaoboy; Alpha with Asymmetry; Capital Structure Arb

The Acquirers Podcast

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The Secret Sauce of Cantos

Frank Cantos: I ran my book very differently than post-GFC. He says his secret sauce was taking disparate pieces of the capital structure and piecing them together to form a very asymmetric option. After GFC, prime brokers didn't have these magnanimous terms on extending balance sheet,. So we became much more, much less levered and more directional in our bets.

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