16 Comments
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Will's avatar

Thank you for sharing this in-depth analysis. In a world filled with simplistic "this stock will skyrocket" articles, it's refreshing to read something intelligent every now and then!

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Arny Trezzi's avatar

Thank you so much William for your words 🙌

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David Breakstone's avatar

Excellent. Apollo is the definition of fly wheel

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Arny Trezzi's avatar

Thank you David!

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Triple Cheddar's avatar

What are your thoughts regarding the NAIC’s recent meeting minutes and its pending elimination of regulatory capital arbitrage, ie via CLOs, rated notes, private letter ratings? Could this be the reason for Apollo’s recent steep decline?

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Arny Trezzi's avatar

Apollo is declining just because asset managers are rotating out of alternative investors as a cluster. Imo no real issues around

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pinkstone french's avatar

Looks good in the 130s here..great breakdown of their model Arny

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Arny Trezzi's avatar

Thank you much pinkstone!

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K.'s avatar

Wow Arny this sounds amazing. Thanks for sharing.

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Arny Trezzi's avatar

Thank you for reading K !

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Unreal Research's avatar

Great insights! How would you position Apollo, comparing it to competitors like Ares and Oaktree who are well known for their private credit strategies as well?

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Arny Trezzi's avatar

Thank you Unreal!

They are all great, but Apollo to me is playing a smarter game by being vertically integrated. I believe this creates a compounding advantage.

On top of it, Apollo is the only one clearly targeting the opportunity on Investment Grade private assets, which could be HUGE for pension funds...

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Bernardo's avatar

Oaktree is part of brookfield which also owns annuity insurers. What do you think about brookfield?

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Marty Austin's avatar

great article, did you buy already?

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Arny Trezzi's avatar

Thank you Marty, yes I have it. The recent dip helped!

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Marty Austin's avatar

nice! i was looking and it seems like a good entry

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