Jim Lebenthal

speaker

650 appearances 1 recordings 1 series first heard Jul 2026 last heard 28 Jul

Jim Lebenthal’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Don't make yourself miserable by funding what's going to come decades down the line.

That's really important.

That comes under the heading of speculative investment.

Let's discuss that.

Let me continue on the private markets for a second because

Because what private markets do is they take out the randomness that comes in the public markets on a day-to-day basis.

I'm a former engineer, former nuclear engineer.

I drove submarines for the Navy.

And in that world, if you pull a control rod out of a reactor by half an inch, the reactor is going to respond the same way every time.

The coolant is going to go to a certain temperature.

The steam pressure in the steam generator is going to go to a certain pressure.

The turbine is going to spin faster, and you're going to reach a certain speed.

There's no question of what's going to happen.

But on any given day in the public markets, two plus two can equal five, and there doesn't have to be any reason to it.

You were just using a great example with Tesla, which goes from 400 to 140 to 400 to 200.

That's not a real measure of the company's worth.

What private markets do is it takes out those vagaries of the day-to-day machinations of the public markets.

And it just says, listen, we're investing in this company for the long run.

Here's what we're paying.

Here's what we think it's going to be worth.

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