The market is ahead, and has been ahead, of the fetes movements. What's concerning is not an inverted yeldgrif, but concerning as i haven't seen a capitulation trade. The spack market sort of sideways, call it flat. Since the end of october, actually,. Yet the yield as an asse class is gone up. They're relatively flat now. But they're short dated duration. That's a pretty good defensive outcome, and you're earning more yield. So i'm more concerned about where are we in that capitulation trade, because i want to be a lequidity provider. I want when people need money, we're waiting on the
IN THIS EPISODE, YOU’LL LEARN:
01:52 - What SPACs are and how they work.
09:16 - Why some companies would prefer to IPO through a SPAC rather than the traditional IPO process.
19:27 - Why the incentive structure of the SPAC IPO process is sub-optimal.
31:09 - How pre-merger SPACs offer an interest risk/return profile.
49:21 - David’s thoughts on the overall current market environment.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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