Stefan Kaluzny
6 statements across 1 episodes · 2 bullish · 2 bearish · 1 people on the record · first statement Oct 21, 2021 by Stefan Kaluzny · across every show →
On the record as a speaker too: Stefan Kaluzny's record, appearances and statements → this page counts the times other people say the name.
Everything said about Stefan Kaluzny, oldest first
Oct 21, 2021 positive
Kaluzny: Outsized PE returns require matching manager and company lifecycles
“We believe that companies are organisms, that have their own life cycles. They grow, they mature, they decline, they get sick, they get better. They're a series of things, and they have their own life, and candidly, chief executives or management teams also ha…”
Oct 21, 2021 negative
Kaluzny: Retail investors fatally mistake department store distributors for proprietary brands
“Many of the mistakes that are made are when people either confuse a distributor for a brand, leaving aside some of our own missteps in this area, but department stores valued as brands, when in fact they were distributors, as an example, and not thinking of th…”
Oct 21, 2021 neutral
Sycamore passes on viable buyouts unless they have hand-picked leadership ready
“In the absence of having that close relationship with someone who is going to lead the company and who we feel is just right, we have not always chosen to take risk on just an asset or just a company where the company's fine, or maybe the company's terrific, b…”
Oct 21, 2021 positive
Sycamore Partners achieved a 16x return on its $250M Hot Topic buyout
“EBITDA, when we acquired the two companies together, was about 65. We did it as a traditional LBO. We invested two hundred and fifty million dollars, and based on the market value of those two companies today, which we still own, one has gone public, the other…”
Oct 21, 2021 negative
Kaluzny's biggest regret: sticking to value and missing the recent growth boom
“Candidly, the single largest investment regret I have is having traditionally been a value investor, not having recognized the power of growth over the last five years. And pivoting our portfolio to embrace those models at what appeared to me to be relatively …”
Oct 21, 2021
Kaluzny: Private equity and credit teams must remain strictly separate
“We need to supplement the trading and debt skills because that is a business of many decisions with imperfect information rather than few decisions with, in a perfect world, perfect information. I believe that those teams need to be different and need to be se…”