We're bottom up manager. Most of our views on the world are from being in the trenches, and then formulating an opinion of what the world is telling us. We believed when the feds said they were going to raise rates, they were. And we do think that balancshet has hedge fun like qualities. The reason i was less concern but sure rates being raised also is it's a perception thing. Unless it can affect the middle of the curve, or the five to tenure or longer, you're not really affecting valuations. Your just affecting working capital funding, which changes margins,. But not huge whie, one % change in inch rates for somebody's using it as
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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