Are SPACs in a Bubble? ( w/ Mark Yusk )

Are SPACs in a Bubble? ( w/ Mark Yusk )

The Interview: What are SPACs? What role do they play in the current investment landscape? What opportunities do they offer investors? And, perhaps most importantly, are they in a bubble? Mark Yusko, CEO and CIO of Morgan Creek Capital Management, joins Real Vision senior editor Ash Bennington to answer these questions and more. Yusko argues that SPACs offer exposure to the growth areas of the future—from online gaming and e-sports to electric vehicles and space exploration—and that SPACs present the path forward for early-stage companies to go public. Yusko traces the different stages in the SPAC capital formation process, which includes pre-IPO, private investment in public equity (PIPE), and post-merger, and he depicts the various opportunities they offer investors, noting that many stages offer bond-like risk but equity-like returns. Yusko describes his latest venture, the Morgan Creek and EXOS Launch SPAC Originated ETF, which seeks to deploy active management and long-term holding periods as a way to navigate a promising space that is nevertheless frothy like so many other pockets of the market. Recorded on February 10, 2021. Key learnings: Yusko explains that SPACs are just a regulatory wrapping—saying that SPACs are in a bubble is like saying hedge funds are in a bubble. Yusko argues that SPACs offer exposure to the companies of the future and that, due to the dispersion between different SPACs, active management and diversification is the best way for investors to play the space. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Episoder(2003)

Adventures in Finance 11 - Broken Promises: The Impending Global Pension Crisis

Adventures in Finance 11 - Broken Promises: The Impending Global Pension Crisis

The financial system will soon witness a collision between an unstoppable force and an immovable object. Pensions around the world are being crushed under the weight of trillions in unfunded liabilities while hundreds of millions of Baby Boomers are advancing to retirement in ever greater numbers, creating a perfect storm for the next crisis that is all but mathematically certain to happen. In 'Things I Got Wrong', Preston Pysh (@PrestonPysh), co-host of The Investors Podcast, shares crucial lessons about applying value investing principles in times of crisis. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Adventures in Finance 10 - Carson Block: Short-selling Legend and Market Vigilante

Adventures in Finance 10 - Carson Block: Short-selling Legend and Market Vigilante

Carson Block, Founder of Muddy Waters Research, single-handedly dismantles fraudulent companies and his research can cause stocks to plummet 90% in market cap. As one of the world's preeminent short-sellers, Carson shares his incredible story and process for identifying fraudulent targets. In 'Things I Got Wrong', Dr. Steve Keen, professor of economics at Kingston University London, fesses up to misjudging the Australian real estate bubble. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Adventures in Finance 9 - Reflation: American Dream or Political Nightmare?

Adventures in Finance 9 - Reflation: American Dream or Political Nightmare?

Deconstruct the Trump Reflation Trade as unsightly political realities emerge from the shadows. In 'Things I Got Wrong', David Hay, CIO of Evergreen Gavekal, confesses to underestimating central bank firepower and the usefulness of extreme market sentiment readings. Learn more about your ad choices. Visit podcastchoices.com/adchoices

30 Mar 20171h 2min

Adventures in Finance 8 - Over the Barrel: A Journey From Boom to Bust

Adventures in Finance 8 - Over the Barrel: A Journey From Boom to Bust

The repercussions of a boom-bust energy cycle and massive infrastructure investment means a supply glut and potentially lower oil prices for much longer than anyone expects. In 'Things I Got Wrong', Michael Lewitt sets aside his ego and trusts in the machines and artificial intelligence. Learn more about your ad choices. Visit podcastchoices.com/adchoices

23 Mar 20171h 2min

Adventures in Finance 7 - The Triggering: Article 50 and Brexit

Adventures in Finance 7 - The Triggering: Article 50 and Brexit

Uncertainty reigns, as political and economic forces build before the historic negotiations which could alter the shape of Great Britain and the EU forever. In 'Things I Got Wrong', Bill Fleckenstein, CEO of Fleckenstein Capital discusses the mistakes he made in underestimating the folly and largesse of Central Bankers. Learn more about your ad choices. Visit podcastchoices.com/adchoices

17 Mar 201758min

Adventures in Finance 6 - Satellites, Big Data and Finance

Adventures in Finance 6 - Satellites, Big Data and Finance

Explore how satellite imagery data is being utilized to drive financial insights, with advice from James Crawford, CEO of Oribital Insights. In ‘The Things I Got Wrong’, Jawad Mian, Founder of Stray Reflections, sits down to share his slip-ups about silver and managing your ego. Learn more about your ad choices. Visit podcastchoices.com/adchoices

9 Mar 201755min

Adventures in Finance 5 - China’s One Belt One Road

Adventures in Finance 5 - China’s One Belt One Road

Unearth unprecedented investment opportunities in China’s One Belt One Road strategy – something we haven’t seen since the BRICS. Plus, Ben Hunt, Chief Investment Strategist at Salient Partners shares what he got wrong about Europe. Learn more about your ad choices. Visit podcastchoices.com/adchoices

2 Mar 201753min

Adventures in Finance 4 - Analyzing Cyclical Market Behavior

Adventures in Finance 4 - Analyzing Cyclical Market Behavior

Understand how to leverage financial cycles & forecast future markets with veteran investor Robin Griffiths. Also on this week, Brent Johnson, CEO of Santiago Capital, tells us his misjudgments’ on gold and being a true contrarian. Learn more about your ad choices. Visit podcastchoices.com/adchoices

23 Feb 201752min

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