Asset Management and Wealth Solutions Sector - News

[John Hjorth]

Again a new topic, embracing a whole sector, [, or you may call it an industry], as a placeholder for posts related to the sector, not individual names [tickers].

 

I'll along the way adjust the topic title, if it becomes prone for adjustment, ref. below about 'change'.

 

Just for starters here, here an interview podcast with Marc Rowan, CEO of Apollo Global Management, already posted and commented on today in the APO topic in the Investment Ideas forum here on CoBF, which I think actually provides a true and fair view of the sector by now, from the perspective of an insider and sector participant & competitor :

 

Norges Bank Investment Management - Nicolai Tangen - In good company [November 13^th 2024] : Marc Rowan - CEO of Apollo | Podcast | In Good Company | Norges Bank Investment Management.

 

 

 

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One thing that really strikes me here, is how things continue very fast to evolve, constantly and eternally changing over time, while the whole sector is growing pretty fast. Has this something to do with the last 'violent', 'volatile' - now almost - four years?

 

The striking part to me here is Marc Rowan has actually been what I would dub 'press shy' for years [In the above interview he is mentioning it himself], while i.e. Mr. Flatt at [Canadian] Brookfield has been very 'outbound oriented', extrovert and promotional in a similar period.

Edited November 16, 2024 by John Hjorth

[Gamecock-YT]

press shy but no one wants to turn down the guy that controls the biggest fund in the world. kiss the ring. 

[Xerxes]

It is hard to remember but +5 years ago Flatt and team were “press shy” as well. 
 

The fact that the Apollo’ CEO is doing interviews these past few years, is a clear indication that they do not want to be press shy. 
 

you know who is actually press-shy, Prem Watsa. 

[John Hjorth]

17 hours ago, Gamecock-YT said:

press shy but no one wants to turn down the guy that controls the biggest fund in the world. kiss the ring. 

 

@Gamecock-YT,

 

I'm personally not sure what you're alluding to here. Pardon my ignorance, and thank you in advance for your elaboration.

[Gamecock-YT]

2 minutes ago, John Hjorth said:

 

@Gamecock-YT,

 

I'm personally not sure what you're alluding to here. Pardon my ignorance, and thank you in advance for your elaboration.

 

the norwegian sovereign wealth fund 

[John Hjorth]

54 minutes ago, Xerxes said:

It is hard to remember but +5 years ago Flatt and team were “press shy” as well. 
 

The fact that the Apollo’ CEO is doing interviews these past few years, is a clear indication that they do not want to be press shy. 
 

you know who is actually press-shy, Prem Watsa. 

 

@Xerxes,

 

Yes, promotional salesmen they are, or have become. I'm thinking we observe them as DIY investors, -if we're good, or old, or both, with 1+ million in the nest egg.

 

Their game is with multiples of billions, obviously growing fast by now, with basically [give or take], none the money their own.

 

In this 'Wealth Solutions' business - with a margin, small and about fixed - everything earnings related, turns into talk and disccussions about volumes [Race to the bottom?]

 

So is the dissemination of all those promotional interviews for us? I speculate : 'Not only for us', also 'for clients, or especially potential clients', to kick in new doors. That may also be why we consider them extremely repetitive over time [All promotional activity possess this property.]

 

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To me, Mr. Watsa is running a totally different game - much more skin in it.

 

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The fact is also, that you bump into promotional sales people wherever you go, whereever you are, or whatever you do, and you are - more or less - under influence of them constantly in life.

[John Hjorth]

40 minutes ago, Gamecock-YT said:

 

the norwegian sovereign wealth fund 

 

Thank you, @Gamecock-YT,

 

Related to Brookfield, or Apollo? [No matter who of them, or both, an awesome client to have and nurse in the stable].

[John Hjorth]

Bloomberg - Markets - Deals [December 11^th 2024] : Apollo CEO Rowan Sees Even Bigger Private Mega-Deals Coming Soon.

 

I personally think, Marc Rowan is likely here talking 'his book', here meaning, based on what's on his desk, as 'work in progress', indicates so.

 

If '2 in 5' [double up up in activity during the next five years] has to be based on and in reality, somebody really has to play, and somebody really has to dance, now.