Investors / stance tracking
What Marc Lasry is saying
FollowFollowingUnfollowCEO, Avenue Capital Group
23 dated public stances tracked since 2018-07-18, most recently 2026-05-15. 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 Marc Lasry'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. Marc Lasry is not affiliated with c8alpha and has not endorsed this page. Nothing here is investment advice.
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23
tracked stances
20
themes
0
side flips
2026-05-15
last heard
Raw direction-aware returns on public statements — long calls credited when the price rose, shorts when it fell, shorts capped at −100% — in a rising market this mostly measures who was long, not who has skill. Returns run from the stance date; calls are rarely closed publicly, so fixed 90-day / 180-day / 1-year horizons are used. A horizon shows only once it has fully matured, and only at 5+ scored stances. “% correct” is the share of those scored calls whose direction-aware return was positive at the horizon — in a rising market a bullish call is correct by default, so read it beside the market, not alone.
Scored calls
Every tracked call with at least one matured horizon: the rows behind the Returns line above. A dash is a horizon that has not matured yet.
| Date | Name | Call | 90d | 180d | 1y |
|---|---|---|---|---|---|
| 2023-05-15 | Private Credit | bullish | +9.0% | +12.1% | +27.4% |
| 2022-05-04 | Private Credit | owns | -3.1% | -2.0% | -6.1% |
| 2019-03-18 | USTS | bullish | +4.8% | +6.9% | +14.1% |
| 2019-03-18 | ENERGY | bullish | -7.4% | -4.1% | -55.4% |
Most-argued themes
| Theme | Stances | Lean | Mix | Last |
|---|---|---|---|---|
| Private Credit | 2 | 2 bullish | 2023-05-15 | |
| USTS | 2 | 2 bullish | 2019-03-18 | |
| ASIA DIRECT PRIVATE LENDING WITH HARD COLLATERAL | 1 | 1 bullish | 2020-01-06 | |
| ASIAN DISTRESSED CREDIT | 1 | 1 bullish | 2019-03-18 | |
| DISTRESSED DEBT | 1 | 1 bullish | 2022-05-04 | |
| DISTRESSED ELECTRICITY GENERATING PLANTS | 1 | 1 bullish | 2020-01-06 |
Tracked stances
bullish / bearish is a view they argued; owns / short is a position they said they hold.
2026-05-15
NBA
bullish
Marc Lasry · video
Sports franchises have uniquely inelastic fan loyalty — teams can lose and run operating losses yet still compound in franchise value, because fans never defect the way they would from any other consumer product
“if Real Madrid loses all their games and they suck, you don't go and become a fan of Barcelona”
Beyond the Final Score: How Sports Became the New Investment Frontier
2023-05-15
Private Credit
bullish
Marc Lasry · video
Banks are structurally pulling back from lending and won't return for 1-3 years, creating an oversupply of deal flow where non-bank lenders can charge 12-15% on senior secured loans with strong collateral while facing no bank competition
“today, you can make loans at 12 to 15%. Because nobody else is making them and you're senior and you're secured”
90d +9.0% · 180d +12.1% · 1y +27.4%
Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)
2023-05-15
LTV
bullish
Marc Lasry · video
Lending to professional sports franchises at approximately 20% loan-to-value provides exceptional collateral coverage given structural appreciation in franchise valuations driven by media rights growth and sports gambling, yielding near-equity returns with…
“you can lend it around a 20% loan to value, which you can't find anywhere”
Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)
2023-05-15
SPORTS ANCILLARY / FAN-INTERACTION AND IN-GAME WAGERING PLATFORMS
bullish
Marc Lasry · video
Sports gambling and real-time social wagering among friends (e.g. in-game prop bets) is structurally increasing sports viewership and fan engagement, creating outsized opportunity in platforms that enable that interaction
“I think the opportunities are immense on the ancillary things to sports. That's what I want to focus on”
Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)
2023-05-15
WOMEN'S SPORTS
bullish
Marc Lasry · video
Women's sports is in early-stage exponential growth and represents an undervalued entry point compared to established US men's leagues where valuations are already elevated
“I want to get involved in women's sports. I think that is going to grow exponentially”
Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)
2023-05-15
US REAL ESTATE HARD MONEY LENDING
owns
Marc Lasry · video
Bank pullback from real estate lending lets private lenders step in at elevated rates on senior secured real estate loans where collateral coverage is strong and the lender is being overpaid for actual default risk
“we're lending money on the real estate side. It's really hard money lending. You're getting overpaid for that”
Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)
2023-05-15
INTERNATIONAL SPORTS LEAGUES (AFRICA/ASIA BASKETBALL, NON-US SOCCER)
bullish
Marc Lasry · video
Sports leagues outside the US carry materially lower entry valuations than major US franchises while sharing the same structural tailwinds of global media rights growth and sports gambling adoption
“I want to get involved in leagues outside of the US, in basketball league in Africa, in basketball leagues in Asia, and soccer teams”
Marc Lasry – Avenues of Opportunity (Capital Allocators, EP.315)
2022-05-04
Private Credit
owns
Marc Lasry · video
With distressed opportunities scarce, senior secured private lending at 8-12% with modest leverage offers attractive risk-adjusted yields as a substitute strategy
“we just lend money and we're lending money anywhere between eight to twelve percent at a senior secured level”
90d -3.1% · 180d -2.0% · 1y -6.1%
Bucks Owner and Avenue Capital Group CEO Marc Lasry on Bloomberg Wealth
2022-05-04
DISTRESSED DEBT
bullish
Marc Lasry · video
Rising interest rates increase debt servicing costs and economic stress, creating more distressed situations that benefit distressed debt investors
“with rates rising that's actually good for us because the more issues there are in the economy...that's beneficial for what we try to do”
Bucks Owner and Avenue Capital Group CEO Marc Lasry on Bloomberg Wealth
2020-01-06
DISTRESSED ELECTRICITY GENERATING PLANTS
bullish
Marc Lasry · video
Power plants built for $1B+ can be acquired for ~$75M because electricity prices fell 30-40% from renewables while legacy debt stayed constant, creating a massive discount to replacement cost with upside as electricity demand recovers
“you can't build a new plant so the value of that plant in my opinion over the course the next five years they'll be worth somewhere between two to seven hundred million”
Milwaukee Bucks' Owner on Investing (w/ Marc Lasry & Marc Levine)
2020-01-06
EUROPEAN DISTRESSED AND SPECIAL-SITUATION DEBT
bullish
Marc Lasry · video
Europe offers €100-200B of distressed debt sales annually in reliable legal jurisdictions (UK, Germany, Switzerland, Nordics), generating stable 10-15% returns with manageable risk for funds up to a few billion
“Europe it's just larger so you can...it's a 10 to 15% business which is good”
Milwaukee Bucks' Owner on Investing (w/ Marc Lasry & Marc Levine)
2020-01-06
ASIA DIRECT PRIVATE LENDING WITH HARD COLLATERAL
owns
Marc Lasry · video
Capital scarcity in Asia forces borrowers who want to preserve equity to pay 20%+ on short-term secured loans with 2x collateral coverage, generating exceptional risk-adjusted returns unavailable in developed markets
“we lent him 20 million he gave us 40 million effect of collateral but he's happy to pay 20% because he doesn't want to give up equity”
Milwaukee Bucks' Owner on Investing (w/ Marc Lasry & Marc Levine)
2020-01-06
END-OF-LIFE COMMERCIAL AIRCRAFT
owns
Marc Lasry · video
Airlines prefer leasing older planes when fuel is cheap, so end-of-life aircraft can be bought at liquidation value (~$5M) and generate high-teens/low-20s IRR through lease income and parts sales, with capital returned within months
“we buy those planes lease them out and we pretty much get back our cost over three years or four years”
Milwaukee Bucks' Owner on Investing (w/ Marc Lasry & Marc Levine)
Unsecured bonds due 2021 trading at 75 cents on a company with $2B market cap and senior debt maturing 2023 are likely to be paid in full, offering a pull-to-par return over roughly two years
“bonds are trading at 75 so I think you're going to get paid off... from 75 to par in the span of the next two years”
90d +4.8% · 180d +6.9% · 1y +14.1%
Avenue Capital CEO Lasry Says a Slowdown Is 'Great' for Credit Side
2019-03-18
RETAIL SECTOR DISTRESSED DEBT
bullish
Marc Lasry · video
Economic growth slowdown (not recession) creates credit stress in retail, generating distressed debt buying opportunities at attractive prices
“I think you have opportunities on the retail side”
Avenue Capital CEO Lasry Says a Slowdown Is 'Great' for Credit Side
Continued energy sector stress is producing distressed credit opportunities that are still ongoing and expanding
“you have opportunities definitely on the energy side you're seeing that continue”
90d -7.4% · 180d -4.1% · 1y -55.4%
Avenue Capital CEO Lasry Says a Slowdown Is 'Great' for Credit Side
2019-03-18
EUROPEAN DISTRESSED CREDIT
bullish
Marc Lasry · video
Europe has an even larger pool of idiosyncratic distressed debt opportunities than the US as the growth slowdown spreads globally
“you have a ton of that in europe”
Avenue Capital CEO Lasry Says a Slowdown Is 'Great' for Credit Side
2019-03-18
ASIAN DISTRESSED CREDIT
bullish
Marc Lasry · video
Asia offers even more distressed credit opportunity than Europe or the US given the scale of the slowdown and less-efficient credit markets
“you have much more actually in asia”
Avenue Capital CEO Lasry Says a Slowdown Is 'Great' for Credit Side
2018-10-31
long USTS / long USTS
basket
Marc Lasry · video
Distressed retailer bonds (JC Penney, Neiman Marcus) are supported by underlying real estate value that exceeds bond prices, creating asymmetric credit entry points
“JC Penney would be a name that people would know, Neiman Marcus would be another”
Avenue Capital CEO Lasry Loves Uncertainty, Issues
2018-10-31
High Yield
short
Marc Lasry · video
HY spreads at 380 bps don't compensate for risk given that 80% of new issuance is covenant-light with lower coupons, leaving bondholders with no protections when distress arrives
“you make a great case for shorting liquid credit — yes, we're shorting the high-yield index”
Avenue Capital CEO Lasry Loves Uncertainty, Issues
Tesla's $40B+ equity cushion makes its 90-day trade receivables essentially risk-free, but irrational market nervousness creates 10-12% annualized yields on paper that should price near par
“we're making 10-12% on a piece of paper that we should be making much less on”
Avenue Capital CEO Lasry Loves Uncertainty, Issues
Power companies with debt that must be restructured are pricing in excess distress, creating buying opportunities in the restructuring process
“right now we're buying quite a bit in sort of power sector... companies that are having issues because their debt has to be restructured”
Avenue Capital CEO Lasry Loves Uncertainty, Issues
2018-07-18
Natural Gas
owns
Marc Lasry · video
Natural gas prices have not risen as much as oil, leaving power companies with too much debt and forcing restructurings, creating a distressed-debt buying opportunity over the next year
“natural gas prices haven't moved up as much so you've got a number of those companies that are doing restructurings we're buying that debt”
Billionaire Marc Lasry says he'd like a little more 'chaos' in the market
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