Telis Demos
speaker
1,116 appearances
8 recordings
1 series
first heard Jul 2026
last heard 20 Sep
Telis Demos’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 — 8 in all, peaking in Aug 2026 with 4.
Appearances
And Spencer, is the market appropriately valuing the earnings?
I mean, one point you made was that it looks like the way you were kind of looking at some of the forward estimates and the multiples on those for the S&P 500 is that maybe investors were treating some of these kind of windfall gains as sort of permanent earnings.
And you think they might be making a mistake doing that.
They haven't actually sold these stakes yet.
They've not converted them to cash.
We're not coming out of a recession.
We're not coming out of a financial crisis.
I want to take another quick break and when we come back, I want to talk about – I don't know.
It sounds like there's a case to be made for private markets given where public markets are.
So I want to get more on that.
I know Caitlin has done some research on that.
So more on that when we come back.
All right.
Welcome back.
So what I was referring to there before the break, Caitlin, was that you did a couple of years ago, and I think you're still actively updating it, right, a very big survey of the returns from private assets.
I think you looked across private equity and private credit, right?
Thousands of different funds.
Well, and so what Spencer is saying about how the market maybe has gotten over its skis a bit, the public market, I don't know.
To me, that maybe makes the case for why the private market, which is not marked daily in the stock market and maybe doesn't suffer from as much of a kind of boom and bust cycle in the pricing.
Is there a role for private markets in a portfolio, speaking as an asset allocator?
Showing 921–940 of 1,116 · page 47 of 56
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