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    Dan Zwirn - Unconstrained Opportunities

    Dan Zwirn - Unconstrained Opportunities

    FromThe Business Brew

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    Dan Zwirn - Unconstrained Opportunities

    FromThe Business Brew

    ratings:
    Length:
    76 minutes
    Released:
    Mar 16, 2023
    Format:
    Podcast episode

    Description

    Dan Zwirn, CEO and CIO of Arena Investors, stops by The Business Brew to discuss his investing strategy.  Bill thinks of Dan as a merchant banker.   

    Arena Investors, LP is a registered investment advisor that originates investments (generally below $50 million) with borrowers and other counterparties who need access to financing and are otherwise not able to access conventional sources. 

    They have complete mandate flexibility across industry, product, and geography.   

    Bill enjoyed this conversation very much and hopes you will as well.   

    Arena's Website: https://www.arenaco.com/wp-content/uploads/2023/03/Arena_Investors_Letter_YE_2022.pdf 

    Dan's Investor Letter: https://www.arenaco.com/wp-content/uploads/2023/03/Arena_Investors_Letter_YE_2022.pdf   

    Detailed Show Notes  

    What Arena does - 1:00 

    How big money invests at times - 4:00 

    Process oriented vs. security selection - 7:00 

    Financial Products vs. Investment Products - 10:50 

    Why Arena has invested in servicing - 17:00 

    The incentives to not see what is going on - 19:50 

    Where are we in a credit/business/fiscal cycle - 22:30 

    How Arena thinks about opportunity - 30:00 

    How Arena thinks about LTVs - 36:35 

    "We are at a casino and there has never been more gamblers" - 41:30 

    Are defaults bad? - 45:30 

    Does diversification solve all problems? 50:00 

    A CLO discussion - 54:20 

    What is going on with the job market - 1:01:00
    Released:
    Mar 16, 2023
    Format:
    Podcast episode

    Titles in the series (100)

    Welcome to The Business Brew This podcast’s mission is to dig deep into the thought patterns and analysis of investors and business people. The podcast stemmed from Bill Brewster consistently feeling like he was listening to prepackaged material while listening to podcasts. Instead, he wanted long form, in depth, discussions about finance, capital allocation, and the psychology of investing/business. Bill is a private investor. He cohosts the podcast Value: After Hours with Tobias Carlisle and Jake Taylor. Tobias, Jake and Bill met at a Berkshire Hathaway meeting and formed a lasting friendship. And, as it turns out, people really like the podcast. While Bill tries to replicate Warren Buffett and Charlie Munger’s thought processes, he is heavily influenced by Bill Miller III, Stan Druckenmiller, and others. This podcast is his attempt to dig deeper into other investing/business philosophies and share the knowledge with the world. We are interested in interviewing portfolio managers, Wall Street sell side analysts, buy side analysts, private investors, owner operators, and anyone that is willing to go in depth about running a company/division. So, if you are interested in participating please email us with the subject “Guest Appearance.” Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification. Bill and his guests make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in these podcasts. Any assumptions, opinions and estimates expressed constitute the participant’s judgment as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions as to market conditions and there can be no guarantee that any projected outcomes will be achieved. This podcast does not accept any liability for any direct, consequential or other loss arising from reliance on the contents of this presentation. This podcast series DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICIATION OF AN OFFER TO BUY ANY SECURITIES MENTIONED OR DISCUSSED. Seek the your financial, tax, legal, accounting, or other advisor’s advice before making any investment decisions. We are not your fiduciary or advisor.