The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 6 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Bergstrom: Corbin trades CLOs and CBOs internally facing Wall Street
“There are markets that we trade internally. We trade CLOs and CBOs facing the street, trying to use our manager selection insights and leveraging our relationship and transaction flow.”
Bergstrom: New Allocators Cannot Replicate Legacy Platform Fund Conviction Today
“I think if we were to approach that manager today, we wouldn't be able to develop the level of understanding and conviction that I think we have now.”
Bergstrom: There are too many hedge funds with no reason to exist
“We believe that there are way too many hedge funds. I don't think that hard to identify a lot of firms that have no reason to exist.”
Bergstrom: Corbin prefers single risk-taker funds over large platforms for alignment
“We have a preference for a single risk taker model, and typically the PM and sort of the business owner are the same. It's not absolute. We do have investments with bigger businesses that look more like platforms. We will do that if we think the value proposit…”
Bergstrom: Judging portfolio and risk management skills ex-ante is extremely difficult
“To be honest, I think it's really hard to ex ante Judge portfolio management and risk management skills with any great degree of confidence”
Bergstrom: Corbin Capital caps look-through single security risk at 100 basis points
“Everything that we do has a pretty strong look through to underlying position sizing. So we are willing to take a hundred basis point look through security level risk. We certainly routinely want to carry 40 or 50 basis point look through single security risk.”