Marblegate Asset Management
11 statements across 2 episodes · 2 bullish · 2 bearish · 2 people on the record · first statement Apr 21, 2022 by Andrew Milgram · said 12 times in 2 episodes since 2022 · across every show →
Mentions by year
brought up most by Ted Seides (10), Andrew Milgram (2)
tap a year for its mentions
2022 12 mentions in 2 episodes 6 per episode
Everything said about Marblegate Asset Management, oldest first
Apr 21, 2022
Apr 21, 2022 bearish
Many levered borrowers are already unable to satisfy their debts
“What we see today as we look at the earnings power of companies that we're talking to lenders about, that they are in that place already. They are facing real inability to satisfy their debts as they come due, which is one of the classic destinations of insolv…”
Apr 21, 2022
Creditor-on-creditor violence and priming transactions will increase in coming years
“And this creditor on creditor violence is a rising trend that I don't see going away anytime soon. Until the creditor groups start to write tighter credit agreements, or the courts define very narrow guidelines around how these credit agreements can be interpr…”
Apr 21, 2022
Milgram: You invest with a butcher's knife, but restructure with a scalpel
“This is an in the weeds game. And so one of the things I talked to my investment team about is you invest with a butcher's knife, but you restructure with a scalpel. And if you don't do the detail work, You're going to get a bad outcome.”
Apr 21, 2022 positive
Milgram: Middle-Market Distressed Credit Avoids Multi-Deal Mega-Fund Conflicts
“Honestly, it's why we like to be in the middle market because there's way, way, way less of that in the middle market. We are oftentimes the only secondary buyer in a credit we're working on. We're certainly the early Identifier and early adopter of that credi…”
Apr 21, 2022
Milgram: Marblegate bought 46 NYC taxi medallions at Citibank foreclosure auction
“Our first purchase was of outright medallions and literally found out about it by doing what any good distress guy does. I opened the wall street journal and I immediately turned to the distress guy sporting pages, which are the foreclosure notices in the back…”
Apr 21, 2022
Apr 21, 2022 positive
Apr 21, 2022 neutral
Apr 21, 2022 negative
Marblegate avoids oil and gas due to uncontrollable commodity risk
“We stayed away from oil and gas primarily because as we thought about it, there was, you were primarily taking commodity price risk. And that's a hard thing for us. Well, impossible thing for us to control. And so the tools of restructuring our value biased ap…”