Raoul Pal and Dylan Grice discuss the launch of Dylan’s new asset management business and the potential risks involved with it. They then begin to discuss the potential economic ramifications of the COVID-19 pandemic and the possibility of keeping borders closed for an extended period of time. The personal implications of COVID-19 are discussed, from just knowing people who have had to deal with the disease, to family who are presently dealing with it. They then go into the time period of the normal credit cycle, and how competitors can take advantage of it and how you must restructure your balance sheet because of it. Tying it all to COVID-19, Dylan Grice thinks we should “go low” and realize that we are 18-24 months away from making new highs in the market. Raoul then goes into discussion of how Dylan Grice sizes up the credit event, and he gives his thoughts on the matter.
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