EightTrack4

John Jacob Jingleheimerschmidt

EightTrack4’s Activity

Wed Apr 24

NL

Boards Post

EightTrack4 posted to the Stereo 8 board. 3:16 PM

Cue That Song By The Doors

Although I understand the business logic guiding The Motley Fool, TMF has done very little to improve their boards since ... well, 2000. Eighteen plus years of benign and not-so-benign neglect. For many years, this was probably a good idea. Other [more]

NL

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EightTrack4 replied to the Stereo 8 board. 3:08 PM

Re: APO carry?

But their history over the last 5 years of my ownership makes me question my assumptions regarding their track record.

Five years is a long enough time for a stock to perform and I can certainly understand why you want to shift [more]

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EightTrack4 replied to the Stereo 8 board. 9:40 AM

Re: APO carry?

What are the most likely sources of carry income for Apollo near term? The market is at an all time high, and one would think that's the best environment for realizations, but APO hasn't really rallied to reflect that. ADT isn't the [more]

Sat Apr 20

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EightTrack4 replied to the Stereo 8 board. 9:22 AM

Re: Two BX questions

Second one is simpler. I believe the conversion moots any carried income tax changes for BX. That is, BX will no longer get any special treatment for carried income, and so any change to eliminate the tax treatment is irrelevant. Looking for [more]

Thu Apr 18

NL

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EightTrack4 replied to the Stereo 8 board. 4:13 PM

Re: BX Converts

Wow. BX says they aren't planning to change the dividend policy for the time being. I'm pretty surprised, but the current policy is my preference. So, I am glad they are going to continue with it, at least for now.

I was [more]

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EightTrack4 replied to the Stereo 8 board. 9:26 AM

Re: BX Converts

Not particularly surprising. I had thought they might wait another year or so, but I guess not. 3 down - ARES, KKR and now BX.

I wish the supplemental presentation provided more information about their distribution policy going [more]

Mon Apr 1

NL

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EightTrack4 posted to the Stereo 8 board. 6:31 PM

Stevie Wonder

https://s1.q4cdn.com/641657634/files/doc_financials/2018/ANN...

Steve posts his annual love letter about Blackstone.

[more]

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EightTrack4 replied to the Stereo 8 board. 6:24 PM

Re: Yet Another Value Blog Follow-up

This what you're looking for?

I appreciate your kind assistance but unfortunately it's not the post I was thinking of. The post you linked to referenced transaction/advisory revenue, not stock expense.

A for [more]

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EightTrack4 replied to the Stereo 8 board. 9:30 AM

Re: Yet Another Value Blog Follow-up

Regarding FRE, need to think about it some. I like DE as a number. Apollo DE of 887 excludes 160 of equity expenses? But, some of that is profit sharing. Should that be attributed to the incentive fees, rather than FRE? Comments welcome. [more]

Fri Mar 22

NL

Boards Post

EightTrack4 replied to the Stereo 8 board. 1:26 PM

Re: Poll: BAM OAK

I think it's a fair price for Oaktree with the notable exception that it transfers much of the "stuff hit the fan" optionality from OAK to BAM shareholders. That optionality was a leading reason many unit holders held OAK through AUM [more]

Mon Mar 18

NL

Boards Post

EightTrack4 replied to the Stereo 8 board. 10:36 PM

Re: Retirement 'Merica

Another anecdote, but counter point. Prosperity gospel churches are poisonous cults that are increasingly popular in poorer areas.

What you wrote is an opinion - not an anecdote.

Thanks for contributing, [more]

Sun Mar 17

NL

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EightTrack4 posted to the Stereo 8 board. 10:23 PM

Retirement 'Merica

https://www.forbes.com/sites/andrewbiggs/2019/03/15/u-s-reti...

Not the message Mr. and Mrs. Doom & Gloom want to [more]

Thu Mar 14

NL

Boards Post

EightTrack4 replied to the Stereo 8 board. 11:05 PM

Re: Apollo meeting

They should hold it in Las Vegas ;)

Wed Mar 13

NL

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EightTrack4 replied to the Stereo 8 board. 6:33 PM

Re: Fun with Alts

In a world which serves public and union pensions but experiencing the replacement of competency with ideological allegiance, this might be a good approach. One of Howard Marks' recent memo remarked on this phenomenon:

This was [more]

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EightTrack4 replied to the Stereo 8 board. 6:30 PM

Re: Fun with Alts

From the Walker report:

****UPDATE- Of course I spent all day yesterday writing this freaking thing (including the now laughable line “M&A for major alternative asset managers is pretty rare”), and as I went to publish Brookfield [more]

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EightTrack4 replied to the Stereo 8 board. 5:58 PM

Re: APO worth $60?

While I don't think APO's framework is unreasonable, I don't expect the market to value APO at $60 anytime soon.

The Walker Non Texas Ranger link I posted under a separate thread suggests that the OAK transaction [more]

NL

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EightTrack4 replied to the Stereo 8 board. 2:02 PM

Re: BAM! Pow! Wham!

(1) I made a mistake in forecasting that they would expand outside of bond market distress;

Although I can understand Oaktree's reasoning for its slow and steady "step out" approach, other alternative asset managers [more]

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EightTrack4 posted to the Stereo 8 board. 1:03 PM

Fun with Alts

Walker (Not Texas Ranger) makes the case for KKR.

http://yetanothervalueblog.com/2019/03/kkr-is-too-cheap.html...

ET

NL

Boards Post

EightTrack4 replied to the Stereo 8 board. 11:02 AM

Re: BAM! Pow! Wham!

Maybe a reasonable time to do a post-mortem.

Oaktree disappointed me too. I made more or less than same mistakes as you did, except I exited out of the great majority of my OAK shares some time ago to purchase shares of more [more]

NL

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EightTrack4 posted to the Stereo 8 board. 9:46 AM

BAM! Pow! Wham!

https://bam.brookfield.com/~/media/Files/B/BrookField-BAM-IR...

OAK is merging with Brookfield Asset [more]

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Big red star, 1000 posts Old School Fool
Board Posts 2918
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Very First Post Only fear is AXA itself... (2/5/2001)
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