Talk Your Book: The CLO Playbook

Animal Spirits Podcast

The Compound

News, Business News, Business, Investing

4.8 • 2K Ratings

🗓️ 5 May 2025

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this episode of Animal Spirits: Talk Your Book, ⁠⁠Michael Batnick⁠⁠ and ⁠⁠Ben Carlson⁠⁠ are joined by Shiloh Bates, Partner and CIO of Flat Rock Global to discuss the relationship between income and volatility, how CLOs perform during recessions, what CLO equity is, what happens when loans default, characteristics to look at for CLO managers, 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. Find Shiloh's book here: https://www.amazon.com/CLO-Investing-Emphasis-Equity-Notes/dp/1642376566 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. See our disclosures here: ⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠ 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Today's Animal Spirits Talk Your Book is brought to you by Flat Rock Global. Go to flatrock
0:04.3	global.com to learn about their suite of credit funds, CLO's private credit, flatrockglobalt.com
0:10.6	He'll learn more.
0:12.1	Welcome to Animal Spirits, a show about markets, life, and investing. Join Michael
0:18.3	Batnik and Ben Carlson as they talk about what they're reading,
0:21.6	writing, and watching. All opinions expressed by Michael and Ben are solely their own opinion
0:26.1	and do not reflect the opinion of Ridholt's wealth management. This podcast is for informational
0:30.9	purposes only and should not be relied upon for any investment decisions. Clients of
0:35.6	Ridholt's wealth management may maintain positions in the
0:38.0	securities discussed in this podcast. Welcome to Animal Spirits with Michael and Ben. On today's show,
0:46.1	we talked to Shiloh Bates, who is a partner of CIO at Flat Rock Global. I have to admit a brand
0:50.8	new one to me. This is, I think you would say a boutique firm.
0:54.7	Is that correct?
0:55.3	Yes.
0:56.3	Right?
0:57.3	I don't know who came up with that as a name, but it just, if you say I work for a boutique
1:00.7	asset management firm, I don't know.
1:03.8	You get like a premium in my eyes.
1:05.0	You know, it's interesting.
1:05.6	You say boutique.
1:07.3	I say boutique, but Kobe.
1:09.5	Like finance and finance. I say boutique, but Kobe and he- In kindergarten, he went to a boutique.
	...

Transcript will be available on the free plan in 12 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Compound, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Compound and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.