Marc Lasry - Making Bucks in Credit and Sports - [Invest Like the Best, EP.371]

Marc Lasry - Making Bucks in Credit and Sports - [Invest Like the Best, EP.371]

My guest this week is Marc Lasry. Marc is a pioneer of distressed debt investing and the CEO of Avenue Capital Group, which he co-founded with his sister in 1995. Avenue manages $13 billion today. More recently, Marc and Avenue have become active investors in sport. He owned the Milwaukee Bucks when they won the NBA championship in 2021, and has since made investments in sports as diverse as sailing and bull-riding. In our discussion, we talk about his journey building a big investing firm, the evolution of distressed investing, and the opportunities in sport today. Marc shares some great stories throughout about travelling with President Clinton, winning the NBA championship, and raising his first fund. Please enjoy this great conversation with Marc Lasry. Listen to Founders Podcast For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Tegus, the only investment research platform built for fundamental investors. Whether you’re trying to get up to speed on a new market or keep tabs on a portfolio company, Tegus is the end-to-end investment research platform you need. With Tegus, you can quickly understand a company's business model, drivers, benchmarks, and management quality. To monitor an entire market, download our pre-built financial models — or update your own with the latest data using Tegus’ new Excel Add-In. Tegus gives you all of this and more, all bundled into a single software license. Find out why 95% of the top 20 global private equity firms are Tegus customers. Learn more and get your free trial at tegus.com/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes. Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @patrick_oshag | @JoinColossus Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Invest Like The Best (00:03:40) Marc Lasry's Early Confidence and Competence (00:06:03) Distressed Credit Evolution and the Allure of Sports Investing (00:08:15) The Milwaukee Bucks: A Championship and Investment Success Story (00:14:54) Exploring New Frontiers: Bull Riding and Women's NCA (00:18:33) Venturing into Sailing with Larry Ellison's League (00:22:27) The Economics of Sports Team Ownership (00:25:19) The Vast Universe of Sports-Related Investment Opportunities (00:29:36) The Evolution of Distressed Investing (00:34:05 The Common Thread Through Marc’s Business Endeavors (00:40:24) Marc’s Most Memorable Investment (Not Including The Bucks) (00:43:40) The Dynamics of Working with Family in Business (00:45:32) Finding Happiness and Perspective Amid Financial Success (00:51:03) Diving into the World of NBA Owners (00:55:19) Exploring New Ventures: Sports, Real Estate, and Beyond (00:59:03) The Art of Deal-Making and Navigating Risks (01:06:10) The Kindest Thing Anyone Has Ever Done for Marc

Avsnitt(538)

Brent Beshore – Cultivating a Disaster Resistant, Compound Interest Machine - [Invest Like the Best, EP.10]

Brent Beshore – Cultivating a Disaster Resistant, Compound Interest Machine - [Invest Like the Best, EP.10]

This week’s guest is Brent Beshore, Founder and CEO of adventur.es, a family of companies that invests in family-owned companies. Brent has a very specific mission with this company, to cultivate a disaster resistant, compound interest machine. At just 33 years of age he has already built a portfolio of private companies that has produced impressive results.  He’s done all this out of the limelight and with no outside investors.  Brent discusses his rewarding but difficult journey and what he has learned, including sourcing and evaluating businesses, how he and his team have improved profitability at his portfolio companies after acquisition and so much more.   For comprehensive show notes on this episode go to investorfieldguide.com/beshore/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

8 Nov 20161h 37min

Jon Stein – The State of Automated Investing - [Invest Like the Best, EP.09]

Jon Stein – The State of Automated Investing - [Invest Like the Best, EP.09]

Would you be comfortable with a robo-advisor running your entire investment portfolio?  That’s the hope of our guest this week, Jon Stein, founder and CEO of Betterment.  Betterment manages $5 billion dollars for over 175,000 clients.  Patrick and Jon explore the challenge of getting young people to invest, Betterment’s recent foray into areas like the 401(k) market, and how Betterment works with financial advisors.  If you’re unsure about robo-advisors, this conversation will make you better understand what they can do for you. Please Enjoy!   For comprehensive show notes on this episode go to investorfieldguide.com/stein/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

1 Nov 201641min

Kiley Adams – An Internal Locus of Control - [Invest Like the Best, EP.08]

Kiley Adams – An Internal Locus of Control - [Invest Like the Best, EP.08]

This episode is a major departure from the norm.  My guest, Kiley Adams, is only 21 years old. She has crammed more learning and adventure into two decades than most people could hope to in a lifetime.  She’s track-and-field star, valedictorian, varsity soccer player, Tae Kwon Do fourth degree master black belt, and philanthropic researcher.  She has traveled all over the country and the globe, recently spending two months by herself in India.  I had the pleasure to meet here while teaching an investing class at Notre Dame and am thrilled to share her incredible story and her attitude that makes all of this possible.   For comprehensive show notes on this episode go to investorfieldguide.com/adams/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

28 Okt 201638min

Ted Seides – A Deep Dive into Hedge Funds - [Invest Like the Best, EP.07]

Ted Seides – A Deep Dive into Hedge Funds - [Invest Like the Best, EP.07]

This week’s guest has forgotten more about hedge funds than most people will ever know. This episode will appeal to managers, allocators and any investor interested in the world of hedge funds.  Ted Seides worked under David Swensen at Yale’s endowment and was a co-founder, President and Co-chief investment officer at Protégé Partners, a multibillion dollar alternative investment firm. I met Ted after reading his book, “So You Want to Start a Hedge Fund: Lessons for Managers and Allocators.” He has taught me a lot ever since. Hedge funds have taken a beating, so this very nuanced investigation into the industry comes at the right time.  Please enjoy!   For comprehensive show notes on this episode go to investorfieldguide.com/seides/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

25 Okt 20161h 18min

Humble Giants – Vanguard’s Gerry O’Reilly and Jim Rowley - [Invest Like the Best, EP.06]

Humble Giants – Vanguard’s Gerry O’Reilly and Jim Rowley - [Invest Like the Best, EP.06]

There is a good chance that this week’s guests manage your money. This episode is a rare and fascinating look into the world’s largest asset manager. My first guest is Gerry O’Reilly, who is the portfolio manager for the largest mutual fund in the world, and oversees more than $800 billion for Vanguard. My second guest is Jim Rowley, a Senior Investments Analyst with deep knowledge of indexing and ETF’s.  The two provide incredible insight into some of the particulars that make Vanguard and its funds tick.  Please enjoy!   For comprehensive show notes on this episode go to investorfieldguide.com/vanguard/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

18 Okt 20161h

Christian Rudder – The Quantified Self - [Invest Like the Best, EP.05]

Christian Rudder – The Quantified Self - [Invest Like the Best, EP.05]

In this episode Patrick talks to Christian Rudder, who is the co-founder of dating service OK Cupid, a NY Times best-selling author, data and math junky, and musician. Patrick and Christian discuss interesting trends in OK Cupids dating data, artificial intelligence, the NSA, great books on the Civil War, and more.  Please enjoy!   For comprehensive show notes on this episode go to investorfieldguide.com/rudder/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

11 Okt 20161h 3min

Morgan Housel – Walking and Thinking - [Invest Like the Best, EP.04]

Morgan Housel – Walking and Thinking - [Invest Like the Best, EP.04]

In this week’s episode, Patrick and Morgan Housel explore the differences between private and public market investing, how to foster innovation and creativity, how businesses are structured and organized, and how Morgan finds interesting books and topics to write about.  Morgan is a prolific writer and researcher, who recently left the Motley Fool and is now a partner at the Collaborative Fund, a venture capital fund in New York City.  Enjoy!   For comprehensive show notes on this episode go to investorfieldguide.com/housel/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

4 Okt 20161h 13min

Jason Zweig – The Power of Serendipity - [Invest Like the Best, EP.03]

Jason Zweig – The Power of Serendipity - [Invest Like the Best, EP.03]

In this episode, Patrick and Jason Zweig reflect on investing, financial advice, books, and life in general. The method for living discussed in the last 30 minutes will be useful for everyone. Jason is the Intelligent Investor columnist for the Wall Street Journal and author of several books including his latest “The Devil’s Financial Dictionary.”  His insights and advice are the results a life of critical thinking, reading, writing, humility, and curiosity.  I think you are going to get a lot from this in-depth conversation.   Enjoy!   For comprehensive show notes on this episode go to investorfieldguide.com/zweig/ For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

27 Sep 20161h 20min

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