Absolute Return Podcast

#270 - Investing in the Quantum Future with dMY Squared Technology Group Chairman Harry You

On today’s show we welcome special guest, dMY Squared Technology Group Chairman Harry You. dMY Squared Technology Group is a SPAC that recently announced a merger with Horizon Quantum, a developer of advanced software development tools for quantum computers. On the show we discuss:

• His lessons learned from working at Morgan Stanley, Oracle, and Broadcom, while working with tech luminaries Larry Ellison and Hock Tan
• What characteristics he looks for in technology investments
• Why he is bullish on quantum computing
• His advice for long-term investors trying to navigate today’s technology landscape
• And more!

#269 - Breaking the Limits of Human Performance with Enhanced CEO Max Martin

On today’s show, we welcome special guest, Max Martin, CEO of Enhanced. Enhanced is an elite sports competition and innovative performance company providing products that optimize health and longevity. On the show we discuss:

• The philosophical case for letting athletes use performance-enhancing drugs
• The biggest misconception about PEDs
• Details about Enhanced’s business model
• What to expect at the Enhanced Games
• And more!

#268 - Building a Modern Asset Management Platform with Victory Capital’s Chairman and CEO David Brown

On today’s show we welcome special guest, Victory Capital’s Chairman and CEO David Brown. Victory Capital is diversified global investment management firm offering a wide array of independent investment approaches and innovative solutions.

On the show, we discuss:

• The “multi-boutique” model and the competitive advantage it provides
• The firm’s approach to mergers and acquisitions
• Where the biggest opportunities for growth are in the investment management industry
• His advice for the next generation of business leaders
• And more!

#267 - AI Tools and the Future of Investing with Reflexivity President Giuseppe Sette

On today’s show we welcome special guest, Reflexivity Co-founder and President, Giuseppe Sette. Designed for institutional investors, Reflexivity combines trusted data with explainable AI to surface insights - not noise.

On the show we discuss:

• The best use of AI in the investment process
• Whether AI will replace or enhance human portfolio managers
• If there’s a place for discretionary macro investing in an AI-driven world
• What the next level investment research stack will look like for analysts
• And more!

#266 - Is AI a Bubble with Gabelli Portfolio Manager John Belton

On today’s show we welcome special guest, Gabelli Portfolio Manager John Belton. Gabelli is a globally diversified, research-driven financial services firm with extensive investment offerings.

On the show we discuss:

• Which segment of the AI value chain faces the best prospects
• Whether large language models face the risk of commoditization
• If AI will kill software and SaaS companies
• Whether we should be concerned about valuations within AI
• And more!

#265 - Pre-IPO Investing with EquityZen Co-Founder Phil Haslett

On today’s show we welcome special guest, EquityZen Co-Founder & Chief Strategy Officer Phil Haslett. EquityZen is an online marketplace for trading pre-IPO shares of private companies. On the show, we discuss:

• Some of the hardest challenges he encountered building a marketplace startup
• The opportunity for investors in pre-IPO shares
• Why companies are staying private longer and private company liquidity
• His #1 piece of advice for entrepreneurs
• And more!

#264 - The Holy Grail of Investing with Catalyst Funds CIO David Miller

On today’s show we welcome special guest, Catalyst Funds CIO David Miller. Catalyst offers unique investment products to meet the needs of discerning financial advisors and their clients. On the show, we discuss:

• How they find best of breed hedge fund managers
• Why portable alpha makes sense for investors
• What he views as the best opportunity in the equity market
• Why he continues to be bullish on gold
• And more!

#263 - A Strategic Lens on the Private Credit Environment with Barings BDC’s President Matt Freund

On today’s show we welcome special guest, Barings BDC’s President Matt Freund. Barings BDC primarily makes debt investments in core middle market companies. On the show, we discuss:

• The recent choppiness and negative sentiment in the private credit market
• The effect of declining base rates on yields and credit conditions
• The current deployment opportunity set for private credit funds
• PIK loans and portfolio construction
• And more!

#262 - Syndicated Loans and Private Credit with Palmer Square Capital BDC’s President Matt Bloomfield

On today’s show we welcome special guest, Palmer Square Capital BDC’s President Matt Bloomfield. Palmer Square Capital BDC primarily invests in corporate debt securities across private companies in the U.S. through broadly-syndicated loans and large cap direct lending. On the show, we discuss:

• Their investment focus on broadly syndicated loans and how that differs from most BDCs
• Recent headlines that have caused some negative sentiment in the credit market and BDC NAV discounts
• First Brands and the path forward when a loan gets restructured
• Lifescan and what happens when a distressed loan recovers
• And more!

#261 - Beyond the Headlines: The Outlook for Private Credit with Kayne Anderson BDC President Frank Karl

On today’s show we welcome special guest, Kayne Anderson BDC President Frank Karl. Kayne Anderson BDC invests primarily in first lien senior secured loans with a secondary focus on unitranche and split-lien loans to private middle market companies. On the show, we discuss:

• Recent volatility in BDC prices and what is driving NAV discounts
• Credit market conditions amidst talk of “cockroaches” and negative headlines from First Brands and Tricolor
• Characteristics that make core middle market direct lending attractive for investors
• An update on private credit spreads and payment-in-kind loans
• And more!