PYMNTS

OCTOBER 1, 2018

Its stock popped 56 percent in the first day of trading, leaving the company’s post-IPO valuation at $8.6 The investigation also discovered irregularities with asset management arm LC Advisors (LCA), a sub-unit of the company dedicated to using loans to construct funds for investors. The Problems and the Reformation. The Aftershocks.

Valuation 54

Valuation Startups Banking CFO 54

Barry Ritholtz

MARCH 5, 2024

What happened over the last year and a half or so is rates went up and valuations went down. But in our experience, we’re seeing them efficiently transfer the credit risk of assets, but keeping the customer relationship, it’s a very important distinction. This is their hedge to credit risk.

Mergers and Acquisitions (M&A) 59

Mergers and Acquisitions (M&A) Credit Risk Investments Banking 59

Barry Ritholtz

AUGUST 29, 2023

So I was a mile deep on a subject matter of bond indexing, but now I had the opportunity to lead an equity indexing group, the entire fixed income team, our investment strategy team that does research for our clients around portfolio construction, those types of things. They create the benchmark.

Investments 52

Investments Benchmarking Valuation Construction 52

Barry Ritholtz

FEBRUARY 13, 2023

But there are so many tools at your disposal, and let alone how much duration you’re taking, how much interest, how much credit risk you’re taking, illiquidity, et cetera. And how do you make the decision, I’m not comfortable with this credit risk relative to the return it’s going to throw off?

Mergers and Acquisitions (M&A) 59

Mergers and Acquisitions (M&A) Investments Marketing Education 59

Barry Ritholtz

SEPTEMBER 26, 2023

But at the end of the day, the companies we invest in are bottoms up or based on bottoms up credit analytics that we have the conviction and we’ll return par plus accrued through through a cycle. And if they don’t, we’re happy to own them at the valuation that we are creating that company act.

Investments 52

Investments Banking Economics Marketing 52

Barry Ritholtz

AUGUST 15, 2023

The challenge is unlike the S&P 500, hedge funds sit in a box that has underlying credit risk from prime brokers. So the credit markets froze. It’s much more about security selection and a relatively static portfolio construction. What’s the valuation? RITHOLTZ: And that was problematic.

Investments 52

Investments Benchmarking Marketing Treasury 52

Barry Ritholtz

MARCH 12, 2024

And up until that moment in time, we didn’t spend a lot of time on credit risk in mortgages. We didn’t really have to model credit risk because that was, that risk was taken by the agencies. But in these private labels, you had the, the market was taking the credit risk.

Profit and Loss 59

Profit and Loss Investments Marketing Securities 59