Stephen Otter
speaker
116 appearances
1 recordings
1 series
first heard Jun 2026
last heard 16 Jun
Stephen Otter’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 — 1 in all, peaking in Jun 2026 with 1.
Appearances
Because as you say, trying to predict exactly what a mine will produce, trying to predict exactly what an unreleased song will produce, that is very hard.
Also, investing before an approval in the healthcare space is very hard because if the underlying assets don't produce revenue...
you're not getting paid anything.
You have a complete zero on your investment.
There are some people who invest in development assets.
That's a much higher risk profile for us.
We're focused in coming in actually at the other end of the spectrum.
We try to come in as late as possible when the asset is its most de-risked and it has the least volatility in its life cycle.
In music, we're typically looking to come in when songs are at least seven to 10 years old.
In healthcare, after FDA approval, ideally a couple of years after FDA approval, so they're through the ramp-up risk.
And on the energy side, when the wells or the mines are producing, because at that point they're materially more de-risked than on the development side of things.
Yeah, we believe so.
I mean, everyone to date has done a single sector approach to royalties, to either music or healthcare or energy.
We're the first to take on a cross-sector approach because we genuinely believe that, A, royalties is a standalone industry.
asset class and should be treated as such.
And secondly, it enables you to be a relative value investor in the space, right?
Ultimately, if you only invest in one particular area and there's a bubble in it, you're likely to convince yourselves that you should continue to invest in it.
Whereas we don't have that problem.
We've been through bubbles in the last seven years of running this strategy where some of the sectors have become too hot and we simply just stopped investing.
So that's one benefit.
Showing 41–60 of 116 · page 3 of 6
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