Paul Kedrosky
speaker
1,259 appearances
4 recordings
2 series
first heard Apr 2026
last heard 4d ago
Paul Kedrosky’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 4 in all, peaking in Sep 2026 with 1.
Appearances
From back in the the GFC from the financial crisis.
As long as the music keeps playing, I keep dancing.
If you you you can't stop, right?
It's a collect classic collective action problem, no different than the collective action problem whenever Dario put out the memo a couple of weeks ago asking for a frontier uh pacing slowdown, blah, blah, blah, and leaving aside whether you thought that was a good idea or a bad idea.
You instantly found the system thrown into a prisoner's dilemma where everyone was, you could tell everyone was busy trying to find an angle to defect because if we all cooperate, but I defect, I make more money than anyone else, and you're right back into a race again.
The exact same thing is true in the in the in the context of fundraising.
If all of your peers suddenly stop raising money because they see this as a collective action problem and we're we're walking off a precipice, great.
I'm the only guy left who's still out there raising prodigious.
Amounts of money, I get to own the market.
And of course, on goes the race because then everyone sees that and they all defect and we're right back where we were before.
Yeah, so you just can do it from a yield standpoint.
I mean, so the median is now around seven point two percent.
So you can do the math pretty easily in terms of let's think about it as a
So that's what the hurdle rate that these things are required to earn back to justify uh to to attract investors at the investment grade end of the marketplace.
It's more like ten percent at the junk.
right.
That's right.
So that's what debt investors are telling you they will take.
So it that's not the same thing as saying how much I have to earn to earn back the capital that's been spent.
That's a completely different problem.
Showing 361–380 of 1,259 · page 19 of 63
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