Boaz Weinstein: Hedge Funder, Risk-Taker, BlackRock Challenger 05/14/24
Squawk Pod
CNBC
4.2 • 543 Ratings
🗓️ 14 May 2024
⏱️ 36 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | Bring in show music please. |
| 0:03.0 | Hi, I'm the NBC producer Katie Kramer today on Squawk Pod. |
| 0:09.0 | Famed Hedge Funder Boas Weinstein, |
| 0:12.0 | a rare interview on Wall Street's latest power struggle. |
| 0:15.6 | The retail investors are some of the least sophisticated investors in the world. |
| 0:19.0 | The president of Blackrock, I sat in his office, Rob Capito's office, seven years ago and he said, |
| 0:24.0 | kid, these products are sold not bought. |
| 0:26.0 | Why Weinstein and his Saba fund are going after closed end funds, like those managed by |
| 0:31.8 | Black Rock to unshackle the $1.4 billion he says is on the line |
| 0:36.4 | for shareholders. |
| 0:37.4 | Sometimes, unlike ETS, unlike mutual funds, they traded deep discounts to their objective value, and that discount can be corrected |
| 0:46.0 | with the press of a button. |
| 0:48.0 | Plus, the rest of today's stories that got us squawking. |
| 0:51.0 | Food news. |
| 0:52.0 | Bacon though, bacon, bacon, |
| 0:53.0 | new tariffs on China manufacturing and they're back. |
| 0:57.0 | The meme stocks return. |
| 0:59.0 | Thanks to what else, memes on social media. |
| 1:02.0 | I mean, he didn't notice improving fundamentals. What else? Memes on social media. |
| 1:02.7 | I mean, he didn't notice improving fundamentals |
| 1:04.8 | at Game Stop, did he? |
| 1:06.1 | It's not that he said, oh, look. |
... |
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