Interview With Jamie Dinan At SALT ConferenceVW Staff
Jamie Dinan founded York Capital Management in September 1991 and is the Chairman, Chief Executive Officer and a Managing Partner of the Firm. Jamie Dinan is a Co-Portfolio Manager of the York Multi-Strategy, York Credit Opportunities, York Event-Driven UCITS funds, and York Sub-Advised '40 Act Strategy and the Chair of the Firm's Executive Committee. From 1985 to 1991, he worked at Kellner, DiLeo & Co., where Jamie Dinan became a General Partner and was responsible for investing in risk arbitrage and special situation investments.
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Interview with Jamie Dinan of York Capital Management
York has the same amount of back office as they do investment professionals
European credit is ripe for the pickings
stepping in where the banks aren't going
terms that are incredibly attractive
banks are moving out of paper, York is buying it
European credit is the gift that keeps on giving (similar to Lehman in the US, which Paulson said was the gift that keeps on giving on his investor call recently)
European equities are 18 months behind. Lots more greenshoots there than 6 months ago.
Europe can not create inflation, but they keep trying
US has had a spigot of QE, but still can't get to 2%…now we are taking out stimulus and taxes
re going up, demographics are aging — which is causing deflation in the US
Cash is being penalized. Need to use debt correctly and use cash
Worries– Not much keeps me up at night
We run a diversified, liquid portfolio
Often worries about fear begetting more fear —will the risk off continue and start to spiral
Advice for young investors/start ups — not being so focused on managing draw downs, left a lot of money on the table because of it
more willingness to ride volatility
The past is the past, leave it behind…what can you do tomorrow.
Wish I truly appreciated how valuable alpha generation was going to be in the institutional marketplace
Follow your dream, follow your passion