Talk Your Book: Moneyball Meets Private Equity

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 13 January 2025

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of Animal Spirits: Talk Your Book, Michael Batnick and Ben Carlson are joined by Greg Bond, CEO of Man Numeric and Head of the Americas for the Man Group to discuss how the private equity portfolio is constructed, screening out poor quality businesses, what private equity companies look for in investments, data and analytics within sports, Greg's experience with the Red Sox, 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 by Crane Shares. Go to cranechairs.com
0:04.0	slash bio. That's B-U-Y-O to check out the Crane Shares, Man Buyout, Beta Index, E-T-F, Bio. That's ticker BYU,
0:13.0	Cranches.com to learn more.
0:17.0	Welcome to Animal Spirits, a show about markets, life, and investing.
0:21.3	Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.
0:26.5	All opinions expressed by Michael and Ben are solely their own opinion and do not reflect the opinion of Riddholt's wealth management.
0:32.8	This podcast is for informational purposes only and should not be relied upon for any investment decisions.
0:38.6	Clients of Ridholt's wealth management may maintain positions in the securities discussed in this podcast.
0:46.7	Welcome to Animal Spirits with Michael and Ben. On today's show, we speak about an ETF that tries to give exposure to companies that private equity companies, I'm sorry
0:56.8	saying companies twice in a sentence, would target.
0:59.2	And Ben, I gave an analogy or I posited a question, does it actually make sense that there
1:04.0	might be a premium to these companies that are private instead of public, which historically
1:08.7	was the opposite?
1:09.9	And after being shut down,
1:11.3	I kind of thought like that scene in Billy Madison. You want there to be a liquidity premium,
1:16.1	not an illiquidity premium? Exactly. That is make out of mercy on your soul. You know where I'm
1:21.5	going with that. Yes. But so in the past, I think there was a much wider spread between
1:25.9	private companies and public. And that I think has narrowed in the past 20 years.
1:30.3	There's more money has gone in there.
1:31.7	And these buyout funds are now way bigger than they were in the past, right?
1:36.0	And you can't just, I think it was fishing in the barrel before, and it's not like that anymore.
1:41.9	So this sort of public equity or private equity in a
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