Andrew Wells: Why The Bond Market Still Matters

Andrew Wells: Why The Bond Market Still Matters

In this episode of The Blunt Dollar, Ignacio sits down with Andrew Wells, Chief Investment Officer at Sanjak Alpha and a veteran fixed income investor with decades of experience navigating bond markets, hedge funds, and ETFs. Andy shares his journey from small town Texas to running trading desks and hedge funds, while breaking down how today’s bond market is fundamentally different from the last four decades of falling interest rates.  🔎 Why the bond market may ultimately challenge the Fed and why cutting rates into strong markets and persistent inflation could be a dangerous experiment 📊 The hidden complexity of fixed income and why active management tends to outperform in bonds while most equity managers struggle to beat the index ⚠️ Liquidity risk, credit spreads, and the illusion of safety in bonds including lessons from the 2008 financial crisis and the brutal bond drawdowns of 2022 🧠 How professional investors think about risk management, preventing drawdowns, and why sequencing of returns matters more than most investors realize 🚀 Career advice for young professionals including the importance of intellectual humility, handling criticism, and why communication will still beat machines in the age of AI If you like fixed income insights, macro thinking, and honest conversations about how markets really work, this one's for you. Oh, and if you haven't already... subscribe to The Blunt Dollar for more raw and honest finance conversations. New episodes drop every other week! Available on Spotify, Apple Podcasts, and wherever you get your podcasts. And last, but not least, don't forget to follow me on LinkedIn: https://www.linkedin.com/in/ignacio-ramirez-moreno-cfa/ Enjoy the episode! Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Listeners should consult a qualified financial professional before making any financial decisions.

Leyla Kunimoto: Why Liquidity Is An Illusion

In this episode of The Blunt Dollar, Ignacio sits down with Leyla Kunimoto, co founder of Accredited Investor Insights, one of the most candid and independent voices analyzing private markets today. Drawing from conversations with hundreds of LPs and exposure to more than 75 deals, Leyla shares what really happens behind the scenes in private equity, venture, and private credit.  💡 Why an LP decided to speak publicly Leyla explains why she launched Accredited Investor Insights after struggling to find unbiased information as a retail LP and how her newsletter aims to level the playing field between fund managers and investors. 📊 How LPs actually evaluate funds and managers From track records and underwriting assumptions to spotting overly aggressive projections, Leyla breaks down the key signals she looks for before allocating capital. 💰 The truth about DPI and why everyone is obsessed with it Why distributions to paid in capital became the most important metric in private equity today and why IRR alone can be misleading. 🔍 Continuation vehicles, NAV loans, and the liquidity debate A candid discussion about the tools GPs use to generate liquidity, when they make sense, and when they might be masking deeper issues inside funds. 🚀 The future of private markets and advice for the next generation Leyla shares her outlook on democratization, blockchain based ownership of fund stakes, and why communication skills and judgment will matter even more in the age of AI. If you like private markets, LP perspectives, and honest conversations about how capital really flows behind the scenes, this one's for you. Oh, and if you haven't already... subscribe to The Blunt Dollar for more raw and honest finance conversations. New episodes drop every other week! Available on Spotify, Apple Podcasts, and wherever you get your podcasts. And last, but not least, don't forget to follow me on LinkedIn: https://www.linkedin.com/in/ignacio-ramirez-moreno-cfa/ Enjoy the episode! Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Listeners should consult a qualified financial professional before making any financial decisions.

Diego Parrilla: Understanding Risk In An Uncertain Financial World

In this episode of The Blunt Dollar, I sit down with macro thinker, engineer, and investor Diego Parrilla to unpack the hidden fragilities of today’s financial system and what they mean for investors. From his engineering roots to his career across global banks and hedge funds, Diego brings a unique lens to markets, combining physics, macro, and options theory to challenge conventional thinking. We dive deep into his famous Anti Bubbles framework, the structural debt trap facing global economies, and why inflation may be less of an accident and more of a policy choice. 💡 Diego’s journey from mining and petroleum engineering to trading and macro investing, and how engineering thinking shapes his view of markets 📉 The concept of Anti Bubbles and why some assets become artificially cheap while others inflate into dangerous bubbles 🏦 Why global debt levels may have already passed the point of no return and what that means for central banks and monetary policy 🔥 Inflation as a stealth default and how governments quietly dilute purchasing power over time 🌍 The future of the US dollar, gold, volatility, and how investors can build portfolios designed to survive and thrive in a fragile financial system If you like macro, market structure, and big picture investing frameworks, this one’s for you. Oh, and if you haven't already... subscribe to The Blunt Dollar for more raw and honest finance conversations. New episodes drop every other week! Available on Spotify, Apple Podcasts, and wherever you get your podcasts. And last, but not least, don't forget to follow me on LinkedIn: https://www.linkedin.com/in/ignacio-ramirez-moreno-cfa/ Enjoy the episode! Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Listeners should consult a qualified financial professional before making any financial decisions.

Elias Korosis: The Dangerous Arrogance That Quietly Destroys Top Funds

In this episode of The Blunt Dollar, I sit down with Elias Korosis, Global Investment Partner at Federated Hermes Private Equity and Chair of Invest Europe. From starting his career as a scriptwriter for educational cartoons to becoming one of the leading voices in European private capital, Elias brings a rare combination of storytelling clarity and institutional insight. We dive into the realities behind Europe’s investment narrative, challenge some of the biggest myths in private equity, and unpack the structural issues that matter far more than headlines. This is a conversation about perception versus reality, discipline versus arrogance, and what it truly takes to succeed in private markets today. 💡 The Hollywood gap and why global investors often misunderstand Europe’s true economic dynamism 📊 The truth about IRR, DPI, and how return metrics can distort the real picture for LPs ⚖️ Where fee structures and incentives can break alignment between GPs and LPs 🧠 The hidden risks of GP arrogance and how overconfidence quietly destroys long-term performance 🚀 Why the next generation of investors must combine technology mastery with strong human judgment If you like private equity deep dives, institutional investing insights, and honest conversations about what really drives returns, this one's for you. Oh, and if you haven't already... subscribe to The Blunt Dollar for more raw and honest finance conversations. New episodes drop every other week! Available on Spotify, Apple Podcasts, and wherever you get your podcasts. And last, but not least, don't forget to follow me on LinkedIn: https://www.linkedin.com/in/ignacio-ramirez-moreno-cfa/ Enjoy the episode! Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Listeners should consult a qualified financial professional before making any financial decisions.

Andrew Hollingworth: Great Companies Priced Like Bad Ones

In this episode of The Blunt Dollar, I sit down with Andrew Hollingworth, founder of Holland Advisors and manager of the VT Holland Advisors Equity Fund, a boutique investment firm built around long-term ownership of exceptional businesses. Andrew is a Buffett disciple with a contrarian streak who left the traditional institutional world to build a fund that ignores benchmarks, avoids groupthink, and focuses relentlessly on misunderstood companies run by aligned owner-managers. We explore Andrew’s investing philosophy, how he thinks about sustainable competitive advantages, and why he believes most investors are far too diversified to outperform. From studying the history of great businesses to identifying rare “supernatural compounders,” Andrew shares the mental models and frameworks that guide his decision-making. ✅ Why most investors are too diversified and how concentration drives performance ✅ The operate, generate, allocate framework for analyzing businesses ✅ How to spot real competitive advantages and long-term compounders ✅ Why owner managers and capital allocators matter more than flashy growth ✅ Lessons from Buffett, Munger, and Nick Sleep that shaped Andrew’s thinking If you like value investing, business analysis, and deep conversations about long-term compounding, this one’s for you. Oh, and if you haven't already... subscribe to The Blunt Dollar for more raw and honest finance conversations. New episodes drop every other week! Available on Spotify, Apple Podcasts, and wherever you get your podcasts. And last, but not least, don't forget to follow me on LinkedIn: https://www.linkedin.com/in/ignacio-ramirez-moreno-cfa/ Enjoy the episode! Disclaimer: This podcast is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Listeners should consult a qualified financial professional before making any financial decisions.