Ryan Miller
speaker
4,581 appearances
12 recordings
2 series
first heard Mar 2026
last heard 10 Aug
Ryan Miller’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 — 12 in all, peaking in Jul 2026 with 4.
Appearances
Senior secured debt, an investment grade hyperscaler on a fifteen year contract.
Powers already secured and energized.
Conservative chip assumptions, they're baked in, a clear securitization path on the exit, lower headline return, let's say nine, maybe ten percent, but it scores in the high eighties.
Infrastructure great.
That is the deal you anchor a real position around.
The amateur grabbed at the sixteen percent upside and got wiped out.
You took the nine and compounded it safely for a decade.
And that right there, that is the entire difference between gambling and allocating.
And the scorecard?
Is the thing that makes it visible right in front of your eyes.
Now, before I let you go, let me name the three biggest mistakes I see fund managers make in this exact space.
Just so you can sidestep every single one of them.
Mistake number one, confusing a great sector with a great deal.
AI is a phenomenal sector.
That tells you absolutely nothing whether the specific deal in front of you is any good.
The sector is the wave, the deal is the surfboard, and a great wave on a broken board still drowns you.
Then there's mistake number two, anchoring on the headline return and never once interrogating the capital stack underneath it.
A 16% common equity return and a ten percent senior secured return, they're not even the same species of investment.
And pretending that
They're comparable just because the numbers look close is exactly how people blow themselves up.
Showing 1521–1540 of 4,581 · page 77 of 230
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