Michael Saylor
speaker
2,284 appearances
6 recordings
5 series
first heard Nov 2024
last heard 14 Jun
Michael Saylor’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 1.
Appearances
Like, for example, if you thought that SOFR was going to go from 370 to 170, then you would want to get out the yield curve and be holding a 10 or 20 duration instrument because it'll trade up 20%.
Like something with a 20 duration trades up theoretically 40% when SOFR falls 200 basis points.
So if you're that kind of fixed income investor, you like duration, but most people don't.
Right.
Out of 100 investors, maybe one or two of them is a long duration credit investor.
So they don't want duration.
They don't want delta.
Like, well, you know, like if the stock triples, then this bond is better.
They don't want that correlation to the equity markets.
Well, don't you want something that will go up by a factor of three of Bitcoin rallies?
No.
That's not what they want.
So they don't want duration.
They don't want delta.
They don't want volatility.
They just want the income.
So stretch is interesting because, yeah, you know, there's a saying Winston Churchill, he said, you know, the Americans will do the right thing after they tried everything else.
Okay.
Stretch is the thing we did after we did like 19 other deals.
Yeah.
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