Robert Blabey

And you just have to be, you know, sort of in a position where you're hopefully, you know, rotating through an investment or whatnot to take advantage of that.

Well, it's funny.

Yeah, it's a good because we've we've done a bunch in in private credit where we've generated very high returns, but over shorter periods of time, maybe one to two years.

And we have gotten pushback from from people that we've talked to about, hey, but, you know, you're not compounding the dollars enough.

Well, you're right.

You're not in that example.

But if you can layer these.

and you have confidence that your deal flow is repeatable, then actually, whether you invest in something that goes and generates 15% for 10 years or generates 15% a year for 10 years, other than transaction costs and tax and a few things like that, it sort of doesn't matter to us.

And sometimes what we see is in the benefits of that shorter duration, in my opinion, outweigh

what I'll call the risks of longer term exposure.

That's a philosophy we have.

You know, for instance, we were able to take advantage of when Russia went over the border into Ukraine.

Now, almost four years ago, there was an initial sort of dislocation in the public credit markets and things really sort of seized up and there was some some gapped down trading.

And we were looking at some securities that we were able to purchase at a handsome discount and

Because of that dislocation.

And this was something that, you know, again, we have a finite amount of capital.

So our opportunity, I'll call it, to rotate capital and to be in and out of things gives us the benefit, I'll call it, of when there is a dislocation, having capital ready to move and take advantage of that dislocation and sort of make those macro shocks your friend, if you can.

My first entree I'll call it to investing was in the early 90s when I started out in New York.

And I had the benefit of being around a lot of the earlier hedge fund sort of pioneers as they were investing.

And what I recognized was at the time they were really focused on this absolute return sort of opportunistic style of investing.