Private equity has evolved and become more attractive due to its ability to provide expertise, access capital, and offer better long-term returns.
The importance of trust and maintaining good relationships in the financial industry.
The parallelisms between decision-making in poker and investing, emphasizing the importance of constant learning, adapting, and thinking independently while appreciating historical perspectives.
Deep dives
The goal of the podcast
The goal of the podcast is to reset our thinking on issues and offer a fresh perspective through various lenses, including history, philosophy, art, science, linguistics, and quantitative analysis.
Jim O'Shaughnessy's luck and admiration for Stephen Baglioni
Jim O'Shaughnessy, the podcast host, considers himself lucky to have smart guests like Stephen Baglioni on the show, who served as his 'rabbi' during their time at Bear Stearns. He expresses his admiration for Stephen's qualities and good working relationship.
Challenges faced during the financial crisis and the importance of trust
Jim O'Shaughnessy and Stephen Baglioni discuss the challenges they faced during the financial crisis and emphasize the importance of trust in the financial industry. They highlight the value of maintaining good relationships and working through tough issues.
The evolution of private equity and shifting trends
Stephen Baglioni shares insights into the evolution of private equity and how it has become a more attractive investment option. He discusses the shift towards privately held companies and the growing acceptance of private equity firms due to their ability to provide expertise, access capital, and offer better long-term returns.
Lessons from poker and military history
Stephen Baglioni reflects on his passion for poker and military history. He draws parallelisms between poker and decision-making in various fields, including investing. He emphasizes the importance of constantly learning, adapting, and thinking independently, while appreciating historical perspectives and contexts.
Steven Begleiter is a Managing Director of Flexpoint Ford. Prior to joining Flexpoint Ford in 2008, Steve was a Senior Managing Director at Bear Stearns & Co. He is also a professional Poker player who claimed the 6th place in World Series of Poker 2009, winning $1.59M Show Notes:
Culture at Bear Stearns
The liquidity crisis that ended Bear Stearns
Evolution of Financial Services
Importance of having a ‘thesis’ for your investments
The Rise of Private Equity
Where is PE headed to?
Investing lessons from a Poker career
Role of luck in life and Poker
Psychology at the poker table
How micro-expressions can give your game away
Historical perspective to the Russia-Ukraine crisis
Importance of reading military history
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