AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
Talk Your Book: CLOs – The Providers of Leverage
Animal Spirits Podcast
CLO Equity: A Better Bank
The best vintage for CLOs prior to the financial crisis was 2007. They generated a median return to equity investors between 18% and 19%. Not because they had great credits, but because they could reinvest when loans were at 65 cents on the dollar for everything else. First Republic is down 43% today. Frankly, had these banks own CLO triple A's instead of fixed rate mortgages, they might be in better shape today.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode