Curious what people's industry outlook is for the long term on these types of debt and credit funds and the industry as a whole. Obviously, covid has affected the short term, but does that spill over the long term (5-10 years), or are there other factors to consider? Curious if anyone has any updated articles or books about this
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I posted this in an old Sixth Street thread but if you're interested in this type of thing I would give this a read for a good bull case on upcoming market dislocation opportunities:
https://www.psers.pa.gov/About/Board/Resolutions/Documents/2020/2020-25…
Curious if you know what the bearish argument would be if there is one
Massive infrastructure spending, continued low interest rates, maintenance of consumer confidence (part of controlling inflation is widespread belief that inflation can't/won't happen), continued cash transfers to the American people, pent up growth etc.
The place where it really gets me is people who argue that there hasn't been insane, absurd, ridiculously insane inflation over the last 12 years. There is, just not in consumer prices. We of all people should see it! Asset price inflation - bonkers!
A lot of dollars have flowed into flexible mandates that include distressed. It seems like there's too much money to be put to work in the space (few actual opportunities to deploy capital). If you look at recent BK auctions, the discounts have been minimal.
Instead of replying here, sharing a link to our webinar on Distressed Debt. Till Heimlich, Investment Manager at the Distressed Debt practice of Pictet Asset Management shares his views on this topic.
https://www.acuitykp.com/where-eagles-dare-seizing-opportunities-in-the-distressed-debt-market/
This is awesome, thank you
Hi El Sid, bit of a long shot but any chance you have a summry or report on the topic discussed? Unfortunately the link no longer directs you to the webinar.
Great post. I think inflation and insane corp debt is our best chance. Otherwise I think it's deficit spending until the USD is no longer the reserve currency.
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