Talk Your Book: A $20 Trillion Dollar Market Opportunity

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 17 June 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's show, we are joined again by Bob Long, CEO of StepStone Private Wealth to discuss the basics of private credit, how the Dodd-Frank Act affected the banking industry, what types of deals StepStone is pursuing, why private credit earns higher yields, and much more! Find complete show notes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Feel free to shoot us an email at [email protected] with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Past performance is not indicative of future results. The material discussed has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable though its accuracy is not guaranteed. Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's Animal Spirits Talk Your Book is brought to you by Stepstone Group.
0:03.8	Go to Stepstone Group.com to learn more about their brand new Stepstone Private Credit
0:08.6	Income Fund, CredX, that's Stepstone Group.com. Welcome to Animal Spirits, a show about markets, life and investing.
0:18.0	Join Michael Batnick and Ben Carlson as they talk about what they're reading, writing, and watching.
0:23.8	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the
0:28.0	opinion of Red Holt's wealth management.
0:30.2	This podcast is for informational purposes only and should not be relied upon for any investment decisions.
0:35.6	Clients of Ritholz Wealth Management may maintain positions in the securities discussed in this podcast.
0:47.0	Welcome to Animal Spirits with Michael and Ben. Michael, we're hitting on the fads.
0:49.0	I guess not fads, fads too strong about work, but the trend trends and this is a trend that it just
0:54.2	seems like it's been growing and growing and growing. You mean the soup
0:57.6	du jour? And we've yes we've had more conversations about this with private
1:02.0	credit and it's certainly not going away. this asset class or strategy or whatever we want to call it.
1:08.0	Yeah, I think this was timely because there's a lot of articles in the media
1:13.0	about private credit and what's going on there
1:16.3	and being able to have a 40 minute conversation
1:19.3	and really drill down and ask follow-ups,
1:22.2	I think is helpful to bring context to this.
1:26.0	It's certainly, it's far from a new asset class, but it is certainly the one that is, it is probably
1:32.2	the balance between like popularity and familiarity is is one-sided so I think
1:38.9	this conversation helps to help to level that and I think it's more, and it's important to have a nuanced discussion,
1:45.0	especially for advisors between like,
	...

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