MI Rewind: Masterclass on SPACs w/ David Sherman
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 593 Ratings
🗓️ 4 August 2023
⏱️ 61 minutes
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Summary
Transcript
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| 0:00.0 | You're listening to TIP. |
| 0:02.2 | On today's show, we've started to reshare some older episodes that are my favorite for a few |
| 0:07.5 | reasons. |
| 0:08.6 | One, we get a bunch of new listeners each week, so the new listeners may not have heard this |
| 0:13.2 | episode before. |
| 0:14.6 | Two, even if you've been listening for a while, you may have missed this episode when it |
| 0:19.2 | originally came out. |
| 0:22.5 | Or three, even if you've heard it before, it can be a great episode to learn from again. If you've already heard this |
| 0:27.2 | episode or you're not interested in hearing it, feel free to just skip it. There's no harm in that, |
| 0:31.7 | and you can pick up with our new episodes next week. All right, guys, that's all I had for you |
| 0:36.5 | for this new intro. Everything going forward |
| 0:39.3 | is going to be from the original show. Hope you guys enjoy it. The targets are out there. It is |
| 0:47.7 | highly likely that most SPACs will overpay for these targets, which has always been the case. |
| 0:53.5 | Just like most IPOs don't go up and continue to go up, right? |
| 0:58.8 | Because typically it's an arbitrage realization between private values and public values. |
| 1:07.2 | On today's episode, I'm joined by David Sherman. |
| 1:13.3 | David is the founder, president, and portfolio manager of Crossing Bridge Advisors, which currently has over $3 billion in assets under management. |
| 1:19.8 | During our conversation, we chat about what SPACs are and how they even work, why some |
| 1:24.6 | companies would prefer to IPO through a SPAC rather than the traditional |
| 1:28.2 | IPO process? Why the incentive structure of the SPAC IPO process is suboptimal? How pre-merger |
| 1:34.9 | SPACs offer an interesting risk return profile? David's thoughts on the overall current |
| 1:39.8 | market environment and much more. David brings a wealth of knowledge and experience in relation |
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