Tony Yoseloff
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Tony Yoseloff reads as The Navigator because he steers by design rather than instinct. At Davidson Kempner he has deliberately built a crossover credit strategy in which insight flows both ways between public and private markets, a structure that demands constant triangulation.
“What I meant was between public markets and private markets. Because I think you learn a lot being in private markets that's helpful for public markets. And I think you learn a lot as a public markets investor that's helpful for private markets as well. So it's very complementary.”
“Term of the debt is much shorter in real estate debt than it is in corporate debt. And so the crisis in real estate is like here and coming very quickly compared to maybe corporates where companies in some cases have a little bit more duration, a little bit more time to try to solve their problems.”
“Well, you know, I would maybe say a couple things for that. So first of all, I think the pandemic was an exception compared to some of the other crises because I would suggest that the dot-com bubble or the GFC or maybe some of the European crises in the mid-2010s were very predictable.”
“It's actually not the intelligent investor by Ben Graham. It's obviously a great book, but it's books like extraordinary popular delusions and the madness of crowds by Charles McKay or Reminiscences of a stock market operator by Edwin Lefebvre, which was a pseudonym for Jesse Livermore, who was a famous trader in the 1920s and 1930s, or w…”
Masters in Business: “The Absolute Return Revival with Tony Yoseloff”
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