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Feb 18
|
|
$12.31
$12.31
+0.0%
|
LONG
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Randall Williams
Sports Business Reporter, Bloomberg
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"There's institutional investor money out there... looking to invest in professional sports franchises... Private equity is increasingly buying more stakes because they are seeing these meteorite fees continue to rise." As valuations hit levels where individuals can no longer afford teams (e.g., $8B for Seahawks), the capital stack requires institutional money. Private Equity firms raising dedicated sports funds will see increased deal flow and management fees as they provide the necessary liquidity for these transactions. LONG. Betting on the "financialization of sports" trend. League ownership rules (like the NFL's strict limits) could cap PE involvement; valuations could peak, reducing IRR for these funds. |
Bloomberg Markets
MSG Sports Considering Spinning Off New York ...
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Feb 17
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$12.08
$12.31
+1.9%
|
SHORT
|
Narrator
Financial Reporter
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The narrator explicitly states, "Look at the stock slides of companies like Salesforce, Charles Schwab and Blue Owl. Investors are concerned that AI might be able to replicate their offerings soon." This is the "Obsolescence Discount." As AI agents (like the Altruist tool mentioned) automate complex tasks like tax strategy and customer relationship management, the moats of legacy "System of Record" companies and human-heavy wealth managers evaporate. The market is repricing these firms from "growth compounders" to "distressed assets." SHORT. The narrative has turned; every new AI capability release will act as a negative catalyst for these stocks. AI integration by these incumbents could prove successful, proving they can adapt rather than die. |
Bloomberg Markets
Are AI Fears Triggering a Stock Market Doom L...
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|
Feb 12
|
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$12.49
$12.31
-1.4%
|
N/A
|
Finnhub News
|
— |
Finnhub - OWL
'Nscale Secures $1.4 Billion Chip Loan From P...
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Feb 12
|
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$12.49
$12.31
-1.4%
|
LONG
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Peter Harrison
CEO, Schroders
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Harrison states the deal is driven by the need for "scale" and specifically to access Nuveen's "strength and depth of... Private Markets capabilities and Fixed Income distribution." Traditional "Active Management" (stock picking) is commoditized and capital-intensive due to tech costs. The "Alpha" and growth are entirely in Private Credit and Private Equity. If a giant like Schroders ($700B+ AUM) feels too small to compete without Private Markets exposure, the pure-play Alternative Asset Managers (Blackstone, KKR, Ares, Blue Owl) are the undisputed winners of this secular rotation. They are the predators; traditional managers are the prey. LONG the Alternative Asset Managers and Consolidators. Regulatory scrutiny on private credit valuations; slowing fundraising in private equity. |
Bloomberg Markets
Nuveen to Buy UK's Schroders for $13.5 Billio...
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Feb 11
|
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$12.61
$12.31
-2.4%
|
WATCH
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Michael Batnick
Managing Partner, Ritholtz Wealth Management
|
BDCs and Private Credit firms have high exposure to software loans (ARCC has 24% in software/services; industry average ~22%). If the "death of SaaS" narrative gains traction, the collateral backing these loans (recurring revenue software businesses) becomes questionable. Be cautious of BDCs with heavy software exposure during this sentiment shift. Software companies prove resilient; default rates remain low. |
The Compound News
What Would You Do With $3 Million? | Animal S...
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Feb 11
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$12.61
$12.31
-2.4%
|
LONG
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Leslie Picker
Reporter, CNBC
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Alternative asset managers have sold off double digits recently due to fears of AI disrupting their software holdings. Executives state exposure is small (<10%) and they have been underwriting AI risks for years. The market has priced in a worst-case scenario for private portfolios that contradicts the actual data provided by management. If the exposure is minimal and the "AI disruption" fear is exaggerated, the stocks are undervalued. Long these asset managers as the market realizes the "AI death" thesis for their portfolios is flawed. Private valuations may still need to adjust downwards; indirect exposure via "GDP stakes" or non-software sectors could still be hit by AI deflation. |
CNBC
How alternative asset managers are easing sof...
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