Diameter Capital Partners
20 statements across 2 episodes · 5 bullish · 6 bearish · 1 people on the record · first statement Aug 5, 2021 by Jonathan Lewinsohn · said 58 times in 2 episodes since 2021 · across every show →
Mentions by year
brought up most by Ted Seides (25), Jonathan Lewinsohn (25), Kristen Van Gelder (8)
tap a year for its mentions
2026 24 mentions in 1 episode
2021 34 mentions in 1 episode
Everything said about Diameter Capital Partners, oldest first
Aug 5, 2021 bearish
Lewinsohn: 'Good company, bad balance sheet' distressed opportunities rarely exist anymore
“And frankly, and this is part of why we do a lot more than distressed at diameter, really kind of the secular decline of the distressed debt industry. Because if you think about what makes distressed interesting is you want to buy a business that's going throu…”
Aug 5, 2021 positive
Lewinsohn: Writing forces investors to cite sources and eliminates cognitive biases
“Writing is a very helpful thing to boil down very complicated things to yourself and to prove to yourself that you're right. Because when you write, you usually need sources. How do I know this? Where do I know this from? And in that COVID blog, we had links t…”
Aug 5, 2021 negative
Lewinsohn: Credit Hedge Funds Mistakenly Try Playing Private Equity Turnaround
“We think that too many hedge funds who did credit thought that all of a sudden they were in private equity and they can improve businesses. We don't think that that's our skill set. Frankly, we think if we think we can improve it probably means that other peop…”
Aug 5, 2021 bullish
Lewinsohn: Diameter bought travel-sector distress in 2020 after sitting out 2017–2019
“And so that's why in a year like 2020, where there was sadly for the world, a lot of distressed, we got very involved in rental car companies and airlines and cruise lines. But for most of 1718, 19, we were just involved in a few situations on the sidelines an…”
Aug 5, 2021 negative
Lewinsohn: Mean-reversion trading strategies fail during rapid technological disruption
“And a lot of trading only focused businesses eventually explode on those when the reversion to the mean doesn't work, particularly now where there's so much technological change that formerly stable industries become very different in a short period of time.”
Aug 5, 2021
Lewinsohn: Credit investing requires legal analysis combined with macro and fundamental research
“We do a lot of things in credit that are in the shadow of the law. Right. Whether bankruptcy is coming or there's going to be litigation or what a document says, but that's not it. I also need to know what the price of oil is going to be. And I need to know wh…”
Aug 5, 2021 positive
Aug 5, 2021 bearish
Lewinsohn: Buying low-quality distressed debt early in market sell-offs is a mistake
“Our view is at the beginning of a sell off, the worst thing you could do is buy the lowest dollar price, crappiest companies. If you were a company that traded, let's say you were an oil company that was trading at 75 in January of 2020 and was trading at 25 i…”
Aug 5, 2021 positive
Aug 5, 2021 neutral
Aug 5, 2021
Lewinsohn: Credit investors must obsess over downside risk instead of upside return targets
“One, you have to constantly be thinking about the downside protection in what you invest in. So instead of just always looking, a lot of people say, oh, I want to invest in something I can make 20% in. But you have to obsessively say, if the macroeconomic cont…”
Feb 2, 2026 bearish
Feb 2, 2026 negative
Lewinsohn: Credit losses correlate with over-relying on capital structure seniority
“Will we invest in a business that we don't think is amazing because we think it's good enough where we are in the capital structure? Certainly. But if I look back at places where we've lost money and credit, do they line up in those type of situations more oft…”
Feb 2, 2026 positive
Feb 2, 2026
Feb 2, 2026 neutral
Feb 2, 2026 neutral
Lewinsohn: Pure bankruptcy knowledge edge in distressed debt has competed away
“Distressed at investing was such a frontier, say at least 25 years ago, even before the financial crisis. You didn't need to really care if it was a sock company or a steel company. You knew bankruptcy. The other guys didn't. That has been competed away and is…”
Feb 2, 2026 neutral
Feb 2, 2026 neutral
Feb 2, 2026 neutral
Lewinsohn: Creditor cooperative agreements surged in popularity over the last 18 months
“One thing you're seeing is co-ops, which are cooperative agreements between creditors to say, we're not going to do a deal with the company alone, neither should you, have really come into vogue over the last 18 months.”