Capital Allocators

Rodrigo Bitar on the biggest risk with investing in Venezuela and broader Central America.

Ben Forman on stablecoin's $230 billion market capitalization.

Top quotes from my conversation with Rodrigo Bitar from 3B1 Partners LLC. 1. "Latin America is attractive because of its geographic proximity to the U.S., political sphere of influence, and inexpensive valuations.”   2. "If you have the capability to transact, you have the management team to integrate acquisitions and grow, and you have the capital, you create a big strategic advantage in LatAm.”   3. "The biggest risk is illiquidity. You need to be patient, therefore you need to have high-quality, yielding assets."   4. "Venezuela is still a very interesting investment case with asymmetric risk-reward."   5. "The perceived risk in Venezuela is much greater than the real risk, and it was overlooked by investors for understandable reasons." https://lnkd.in/eDDWGdne With thanks to WCM Investment Management and Morningstar.

On Investment Management Operations, Scott MacDonald speaks with Melissa Dickerson from Genstar Capital. https://lnkd.in/gDWjWCAv With thanks to Octus.

Overlooked opportunities in Latin America. My conversation with Rodrigo Bitar from 3B1 Partners LLC. https://lnkd.in/eDDWGdne With thanks to WCM Investment Management and Morningstar.

Top quotes from my conversation with Ben Forman from ParaFi Capital. 1. “Crypto has been the best performing asset class of the last 15, 10 and 5-year periods. Not having a position today is more of a contrarian view than a consensus view.”   2. "Stablecoins are blockchain’s killer app. They are a $230 billion market that rotates on chain to the tune of about $27 trillion last year in 2024, which was greater than Visa’s total settlement volume."   3. "Tokenization is the biggest leap forward for capital markets since we went from paper to electronic stock markets in the 1970s."   4. “Prediction markets are an incredibly exciting tool for humanity to understand what the worldview is on something.”   5. "There’s no real discernible difference, between the risk-free rate and the risk-free rate on chain today, because that perceived risk has migrated towards zero."   6. “Investing is an emotional and a social behavior. Meme coins represent community.”   7. “At ParaFi, we want to invest in companies and protocols that are increasing the GDP of blockchains.” https://lnkd.in/ecM_ibBC With thanks to WCM Investment Management and Morningstar.

Louis-Vincent Gave on is this the end of U.S. exceptionalism?

Unlocking blockchain's potential. My conversation with Ben Forman from ParaFi Capital. With thanks to WCM Investment Management and Morningstar. https://lnkd.in/ecM_ibBC

Top quotes from my conversation with James Aitken from Aitken Advisors LLP, Louis-Vincent Gave from BCA Research, and Marko Papic from Gavekal. 1. "The world by design has been overweight U.S. assets for a generation. We now have an administration sending a very direct message to global capital: ‘please go away’." -James   2. “The constraint on American legislators is the bond market, which started when the human steepener was elected as President.” -Marko   3. “The markets have just had the Uno reverse card dropped. The U.S. had massive fiscal spending. China and Europe did not. Now, the U.S. is doing fiscal consolidation just as China and Europe step on the fiscal accelerator.” -Louis-Vincent   4. “In policy-induced recessions, what really matters is the second derivative in policy, not data. Markets will move before the data shows we’ve passed the bottom” -Marko   5. "Now's the time to sharpen your pencil and be a net liquidity provider on assets – not at a beta level, not at an index level, but on very specific assets which just got smashed considerably is absolutely the right thing to do." -James   6. "Back up the truck on Latin American assets. Other obvious assets to me are those that have been absolutely decimated because they were perceived to be the big losers in the unipolar U.S. world, like Chinese distressed debt." -Louis-Vincent   7. “I'd love to know what Trump is trading in his PA. If I had insight into that, I would add a lot of value to my clients.” -Marko https://lnkd.in/eWxRHfYB With thanks to WCM Investment Management and Morningstar.

On Investment Management Operations, Scott MacDonald speaks with Scott Farden from Nonantum Capital Partners. With thanks to Octus. https://lnkd.in/eXFUspUS