Investors / stance tracking
What Brett Jefferson is saying
Co-Founder & CIO, Hildene Capital Management
3 dated public stances tracked since 2024-09-12, most recently 2024-09-12. Each line carries the date and the venue it came from; quotation marks mean verbatim. Methodology.
The stances below are c8alpha's editorial distillation of Brett Jefferson's public commentary — television, podcasts, and interviews — compiled by automated transcript analysis and dated to the episode they came from. They may lag the speaker's current view and may contain extraction errors. Text in quotation marks is verbatim from the episode; everything else is our paraphrase. Brett Jefferson is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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3
tracked stances
3
themes
0
side flips
2024-09-12
last heard
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| CLO | 1 | 1 bullish | 2024-09-12 | |
| QM | 1 | 1 bullish | 2024-09-12 | |
| TRUST PREFERRED CDOS (MEZZANINE/SUBORDINATE TRANCHES) | 1 | 1 bullish | 2024-09-12 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2024-09-12
QM
bullish
Forward Guidance · video
Post-crisis mortgage underwriting is dramatically stricter than pre-2008 subprime — 70% LTV, extensive fraud-prevention documentation, and real borrower equity at stake — making these non-agency mortgages far safer than historical default models built on…
“if you have gotten a mortgage lately ask them how many different forms, how many different appraisals — it is not just signing up and making sure you have a heartbeat”
Finding Hidden Gems In Credit Markets | CDO Whisperer Brett Jefferson
2024-09-12
TRUST PREFERRED CDOS (MEZZANINE/SUBORDINATE TRANCHES)
owns
Forward Guidance · video
Post-crisis regional banks are now heavily regulated and healthy, meaning the legacy deferred-cash waterfall trapped inside these structures will continue paying down toward par in a market so illiquid and complex that almost no one else analyzes it, creating…
“we feel strongly that the vast majority of the things that we own are going to pay par or pretty close to par”
Finding Hidden Gems In Credit Markets | CDO Whisperer Brett Jefferson
2024-09-12
CLO
bullish
Forward Guidance · video
Small, single-focus CLO managers with their entire franchise at stake have stronger incentives and better granular credit intelligence than large multi-strategy shops, and tightening AAA funding costs are mechanically boosting equity tranche returns on a…
“these are guys who are usually very very good at trading within the system working within the system”
Finding Hidden Gems In Credit Markets | CDO Whisperer Brett Jefferson
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