Oren Cass

speaker

818 appearances 4 recordings 3 series first heard Nov 2025 last heard 3 Jun

Oren Cass’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 — 4 in all, peaking in Feb 2026 with 2.

Appearances

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The Weekly Show with Jon Stewart · The Wealth of Wall Street with Oren Cass · 11 Feb 2026 podcast

If you think about hedge funds, private equity funds, right?

A lot of the time what they're doing is they're collecting a whole lot of money and interesting question where that money comes from.

And then they're going out and looking for things that they think they can buy at one price and sell at a higher price.

So if you're a hedge fund, right, in the case of what's called a high frequency trading hedge fund, you don't even care what you're buying and selling.

You're literally building bigger fiber optic cables to try to race your trades to the floor faster so that you can get out in front of whoever else is bidding on them.

You make a teeny, teeny little bit on millions of transactions and ta-da, you've generated a profit.

You haven't actually –

done anything useful.

You've just extracted value from somewhere else.

If you're a private equity firm, in a lot of cases, what you're trying to do is say, let's go out and find a series of smaller businesses.

Maybe they're privately run.

Maybe the people running them aren't even just maximizing profit.

Maybe they're veterinarian clinics, let's say, or nursing homes.

Can you buy up a bunch of them, combine them together,

maybe squeeze out, you know, squeeze the customers a little harder, squeeze the workers a little harder, get more cash out of it.

Now you have a profit.

And now could you sell it to someone else?

Can you, you know, when you talk about financial engineering, can you do what's called a capital restructuring?

So add a lot more debt to it so that you can earn more money.

Now you've also added more risk, which means if something goes wrong, turns out firms bought by private equity funds are five to 10 more times likely to go bankrupt, right?

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