With the FOMC minutes coming out today and constant and continuous talk of interest rates,

where does that leave the financial sector?

As another day goes by that we miss Kim

Kahn's hosted Wall Street lunches, I hope you'll enjoy the special conversation I had with

Kyle Brown, CEO of Trinity Capital, a special kind of BDC. He explains what's going on, broadly

speaking, in the financial sector, how that pertains to interest rates,

what that means for financial companies. You can catch the full interview of this conversation,

by the way, on investing experts, where Kyle graciously gets into more about Trinity's makeup and

strategies and place within the broader marketplace and how investors

may be thinking about this part of the market. Hope you enjoy this conversation.

The macro factor in terms of interest rates, in terms of maybe cuts coming down the line,

how do you think about that in context of how you're trying to grow the

business? We saw rates shoot up. We've seen rates now start trickling down. And during that time frame,

we've actually increased earnings per share. So I hope, you know, that could be a good reflection

of what we think about it. We're showing it through our earnings per share.

It hasn't impacted our ability to deliver on that dividend. We actually have pretty limited

exposure to rate sensitivity. The majority of our portfolio, this is all, you can see it right

in our schedule of investments. The majority of our portfolio, 90 plus percent,

has floor rates that are over 12 percent. And so when rates come down, if they can continue to

come down, we actually have some great kind of downside protections there because we have floating rates for our corporate debt.

We have a $500 million revolver with KeyBank.

When rates go down, our cost of capital goes down.

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