EightTrack4

John Jacob Jingleheimerschmidt

EightTrack4’s Activity

Today

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EightTrack4 replied to the Stereo 8 board. 1 hour ago

Re: Growth of the Alt Managers

Just a clarification:

I think APO AUM growth is likely to be higher than 7% because of the boost from Apollo's "Idea Lab" particularly in distressed periods. So I am hopeful of 12% or higher total AUM growth over time.

But [more]

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EightTrack4 replied to the Stereo 8 board. 2 hours ago

Re: Growth of the Alt Managers

Any thoughts on the growth of the alt managers? Any reason the growth story isn't still intact? What do you look for on the growth front? AUM isn't a perfect measure as the fee rates also matter. Anything specific that you look at with respect to [more]

Yesterday

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EightTrack4 replied to the Stereo 8 board. 10:47 PM

Re: APO Earnings

It sounded like from the call that Athene is negatively affected by the new DOL fiduciary rule - they were surprised that indexed annuities were included. They couldn't provide any detail, but do you have a sense of how big the impact is? Is this [more]

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EightTrack4 replied to the Stereo 8 board. 5:12 PM

Re: APO Earnings

Was there anything about Athene and an IPO? Is that still on the table as an avenue to realize some value?

Athene's value was marked down in lockstep with public comps from P/B of 1.18 to 1.02. The valuation change knocked ENI a bit [more]

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EightTrack4 posted to the Stereo 8 board. 2:23 PM

EP Energy

Apollo holding EP Energy is living La Vida Loca as an over-levered energy shale producer but the comapny is hanging on.

[more]

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EightTrack4 replied to the Stereo 8 board. 9:12 AM

Re: Jack Lew on carried interest

https://www.google.com/search?client=safari&rls=en&q...

Well, do you expect Lew to give a speech in front [more]

Tue May 3

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EightTrack4 replied to the Stereo 8 board. 3:30 PM

Re: APOL pre-buyout price

Obviously one deal won't make or break APO. I did generally like the uptick in activity from the trio of ADT, Fresh Market, APOL. Some significant deployments there.

Yes, nice to see! I wonder whether the APOL/University of Phoenix [more]

Wed Apr 27

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EightTrack4 replied to the Stereo 8 board. 1:36 PM

Re: Brad Thomas on BX

Brad's analysis is usually not my favorite, but he is a prolific and well followed author. I was disappointed at his apparent lack of understanding of BX.

It looks like Brad bought BX without understanding it and is going to sell it [more]

Mon Apr 25

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EightTrack4 posted to the Stereo 8 board. 9:21 PM

Two Can Play This Game

http://blogs.reuters.com/alison-frankel/2016/04/12/oaktree-a...

Remember the story of the Mayer [more]

Sun Apr 24

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EightTrack4 replied to the Stereo 8 board. 2:28 PM

Re: BX Earnings Report

Do you see these guys as "hold forever" investments?

I still haven't found a "hold forever" investment but I think these alt managers are potential "hold for a long time" stocks. As with all [more]

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EightTrack4 replied to the Stereo 8 board. 11:45 AM

Re: BX Earnings Report

I'm not so enthusiastic about core+ re. Isn't the point of alt managers to get outsize returns? Seems like style drift and I can't tell how this is much different from a large property rest?

GnV already posted a good response on [more]

Sat Apr 23

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EightTrack4 replied to the Stereo 8 board. 8:07 PM

Re: BX Earnings Report

Another article on Seeking Alpha by Keuka Capital. Is that the author whose previous analyses you have had problems with?

Yes but to be fair I have not read his latest article since it is a Seeking Alpha Pro piece.

Did [more]

Wed Apr 20

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EightTrack4 replied to the Stereo 8 board. 11:15 PM

Re: Yahoo

There seems to be a lot of bidders for Yahoo. I would also be surprised to see Apollo win without teaming up with another firm. But crazier things have happened!

ET

Sat Apr 16

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EightTrack4 replied to the Stereo 8 board. 1:16 PM

Re: BX until 2019?

APO has made a significant move off of its lows, but closed yesterday under $17, a mark it traded above from the beginning of '13 until December '15.

It's worse than that. Remember, APO used to trade on the now defunct Goldman Sachs [more]

Fri Apr 8

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EightTrack4 replied to the Stereo 8 board. 10:58 AM

Re: Carried interest rules

Another weekend paper, from an academic who stakes a claim to be the godfather of carry interest taxation reform.

[more]

Thu Apr 7

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EightTrack4 replied to the Stereo 8 board. 8:15 PM

Re: Carried interest rules

What about executive action? The new fiduciary rules weren't done by legislation. The new inversion rules weren't either.

I believe Hillary and Bernie have both said that they would address carried interest by executive action. Probably
[more]

Wed Apr 6

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EightTrack4 replied to the Stereo 8 board. 4:19 PM

Re: Carried interest rules

If such a rule were to come into effect, how much would it affect the alts? Would it affect the credit-focused alts less than the PE ones? Are the alts still a compelling investment with such a rule, or do they lose a crucial advantage? [more]

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EightTrack4 replied to the Stereo 8 board. 4:09 PM

Re: New Fiduciary Rules

http://www.thirdway.org/report/an-introduction-to-the-fiduci...

Honestly I think it's hard enough to [more]

Mon Apr 4

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EightTrack4 posted to the Stereo 8 board. 11:47 PM

The Fresh Market

http://www.sec.gov/Archives/edgar/data/1489979/0001193125165...

Item 4 of this Schedule 14D-9 sheds some light on the auction process which [more]

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EightTrack4 replied to the Stereo 8 board. 4:06 PM

Re: BAM/BIP

I have no view on the situation with BAM. However, I don't believe that their is a similar potential risk with APO, BX, etc.

There is much less incentive for APO, BX, etc. to inflate asset values than Brookfield. I don't want to say [more]

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Big red star, 1000 posts Old School Fool
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Very First Post Only fear is AXA itself... (2/5/2001)
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