YouSaid · the spoken record

Adam Rodman

lines on the record
58
first
2023-03-27
most recent
2023-03-27
sittings or episodes
1
sources
podcast

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  1. “I started with this idea like the early hedge fund days. I probably romanticized them a little bit, but I thought the early hedge fund pioneers were just my laddest swear on this. They were badasses, volatile, taking big swings, conviction. And it felt to me hedge fund industry tools coming to institutionalized, which works. Obviously, it's great for asset aggregation. So it's not to take anything away from the incredible businesses that they've built. I think that's very different from the tiger model of the 90s or anything about act like Michael Steinhardt decades before that where investors limited partners gave you the flexibility to be concentrated swings when we were right and believe that there was probably research edge. I was hoping to get a group of LPs that would give me the same leash. We used to joke me and the team that if we were pitching an allocator and they had heard of any of our top 10 positions, long or short, that they could stop the meeting short.”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “In the business where it's risky, but not everybody gets a shot, so take it. And petrified as I was, that's where I went.”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “The way that Coriande was structured at that time was that Mark was a great analyst as well, but he was really the portfolio manager sitting at the top. And he had a bunch of lieutenants under him that were managing positions, executing, et cetera, but were feeding a lot of fundamental stuff up to Mark, who had a direction of what investments he liked and themes and whatnot. I liked bringing that fundamental research element, deep research element to a full portfolio and investing. And I wanted to marry that portfolio management that he exclusively held with what I thought would be a good research process or a little bit different research process. And that was the genesis of segment, borrowing a lot, learning a lot, but doing it slightly. It's been 10 years and they fly by. The way that at least I remember it now is that Mark gave me the shot. So I took it. I'd done well for him and thought I could do it. And he said, if you think he can do it, go do it. And he backed me, which was pretty cool. And a few older mentors that I had.”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “All up to speed on fundamentals. There's usually a lead working on something, but it was very deep. I use the word white paper approach for Segris process. Here's a whiteboard. Here's what we think the general population knows about this vast majority of the sector. What do we think we know? And then how do we make sure that we know it the best?”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “I give a lot of credit to the senior guys at Coriento when I joined. They were very much believers in baptism by fire. I actually ended up joining the firm as they were winding down some of their subprime trades, but was also very pressing and the team in predicting that credit level that had started in the US would make its way to Europe and it will manifest itself. In the financial system, honestly in the sovereign debt market, I think it might have been my second or third day at Coriente and Mark just told me to back up the phone. And by $2 billion of notional Greek protection, which was somewhere around five or six basis points over Germany at the time, I had no idea what was going on. And he was always the angel on your shoulder, but he wanted you to dive in head first and figure it out later. So I've got a lot of access to different cross-asset products. And there was a very collaborative work environment where everybody shared what they were working on to bring.”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “I think I've been a national contrarian my whole life. At least that's what my parents tell me. I was a kid where the teacher was telling us that this is the way to go. And I said, well, let's not make a right. And let's make a left. If this is the history of something, I said, well, it's not really the history of it. It's more like this. So I don't know. Maybe that was a know-it-all, but I certainly fancied myself some of that question that I definitely liked being against the grain. I think there's a natural element to contrarians and something deep in the fibers. I think at least as long as I can remember. not when it came to markets necessarily, but when it came to light, I was what was the...”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Not unlike, I guess, a lot of college grads didn't know exactly what they wanted to do other than maybe to be challenged and make what everybody thought was a lot of money, went into investment banking out of college, really didn't know much about anything. I felt like it was a place where I could be challenged and in theory make some money. I didn't last very long, pretty early into that process. I started interviewing. I thought I might like something more market oriented versus the advisory side of things. I was really lucky to meet my first direct boss and group of mentors at Corey Empty Advisors six or eight months into my”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Guest on the fourth and final episode of Climate Solutions is Adam Rodman, the founder and chief investment officer of Segra Capital Management, the largest fund dedicated to investing in nuclear power across public and private markets. Adam founded Segra in 2013 to focus on a concentrated portfolio of contrarian, underfollowed investment ideas. In turn, this led to a dedicated focus on nuclear power. Both Tom Steyer and Bill Oram in the first two episodes of Climate Solutions discussed nuclear power as an essential, although very long-term component of addressing climate needs. Our conversation covers Adam's early career, path to Segra, and shift in focus to nuclear. We discuss the fundamental Case and market inefficiencies in the industry, supply and demand, the nuclear fuel cycle, safety and waste, and risks to the thesis.”

    2023-03-27 · Capital Allocators · Adam Rodman – The Case for Nuclear (Climate Solutions EP.4, Capital Allocators EP.304) · IDENTIFIED FROM THE TRANSCRIPT · source