Talk Your Book: CLOs – The Providers of Leverage

Animal Spirits Podcast

The Compound

Investing, Business, News, Business News

4.7 • 2.1K Ratings

🗓️ 1 May 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's show, we are joined by Thomas Majewski, Managing Partner of Eagle Point Credit Management to discuss what a CLO is, differences between a CLO and a CDO, how Eagle Point Credit is able to pay these yields, the 2023 banking crisis, and much more! Find complete shownotes 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 animalspiritspod@gmail.com 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 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. Wealthcast Media, 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 Eagle Point Credit Management.
0:04.9	Go to eaglepointcredit.com to learn more about their collateralized loan obligation strategies.
0:11.2	That's eaglepointcredit.com.
0:14.9	Welcome to Animal Spirits, a show about markets, life, and investing.
0:18.8	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
0:24.0	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the
0:28.4	opinion of Redholtz Wealth Management. This podcast is for informational purposes only and should
0:33.2	not be relied upon for any investment decisions. Clients of Redholtz Wealth Management may
0:37.9	maintain positions in the securities discussed in this podcast.
0:44.4	Welcome to Animal Spirits with Michael and Ben. One of the themes of this year,
0:49.2	unbelievably so, I guess, is the Russian to money market funds and the yields on cash that's
0:54.5	available. On today's show, we went almost to the other end of the world in terms of income
0:58.5	strategies. We spoke with Tom from Eagle Point Credit Management about what they do with their
1:03.5	portfolio of collateralized loan obligations. This might be the longest one we've ever done.
1:09.6	Yeah, we went pretty deep on this one because frankly, we're learning a lot about this too,
1:13.3	right along with the listener. Yeah, so I don't want to step on too much of this because this is
1:17.6	a, we went deep and this is good and thinking to enjoy learning about CLO. So here is our
1:22.2	conversation with Tom and Jessica. Welcome to Animal Spirits with Michael and Ben. We are excited
1:29.9	today to be joined by Tom and Jessica. Tom is a managing partner at Eagle Point Credit Company
1:34.0	Time. Welcome to the show. Great. Thanks very much for having me, Michael. All right. This is
1:38.2	going to be new to our audience and candidly newer to us. We're talking about the loan market.
1:45.1	We're talking about collateralized loan obligations, which is something that it's a market that's
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