The interest coverage ratio. It is down around 2 versus what it was years before. Meanwhile what we saw the private markets presentation on private equity, we looked at the volt u volume of buyouts. Is that driven by the fact people making loans has changed and is no longer banks with fidc regulations with those that had no regulations is that driving all of this covenant lack of restrictions . So the direct helping space is a comment product. I am going to switch. Direct lending is a comment product. Jelly to the private equity peanut butter. The more dry powder you have. It is the dry powder on the side line. Direct lending caters to that. With the rise in i think the third slide, slide four of the deck, shows the competition for those lending opportunities. In all of these entities making these loans previously for the big banks that had regulations. Thank you. Skipping because there is a Silver Lining in all of this. We are over to the opportunities presented or will be presenting
We are not in a position where some public Pension Plans are paying out 5 . We have a better illiquidity for that. The payoff for that return is on page 19 of the cambridge report. There is a powerful positive cash flow driver when you start in year 2 2022. I wanted to explain the rationale for the strategy. I will turn it over to the board for questions. This is not an action item. Is there Public Comment . I have been coming to meetings over two years and listened to the mum bow jumbo. All of the people are all active money managers. How communevehowhow come there e from vanguards, price. You get more information over the long. I just told you that vanguard, s p 500 in the last 30 years, less than 1 of the s p 500. My recommendation is start inviting passive money managers, and i think your outlook on investing will change. That concludes item nine. Item 10. We are probably going to lose a quorum in 55 minute, we have nine action items pending and five nonaction items pending. I woul
Decades, i have been an investor. The highest calling of mankind, ive often thought, was private equity. [laughter] and then i started interviewing. I watched your interviews, so i know how to do some interviews. Ive learned from doing my interviews how leaders make it to the top. Jeff i asked him how much he wanted. He said 250. I said, fine. I didnt negotiate with him. I did no due diligence. David i have something i would like to sell. [laughter] and how they stay there. You dont feel inadequate now because being only the second wealthiest man in the world, is that right . [laughter] Thomas Buberl is the ceo of the exhibit, one of the worlds axa, one of the Worlds Largest Insurance Companies. I sat down with him to talk about the risks facing global insurers, particularly the war and Climate Change. Explain to people who are not familiar with Life Insurance or Health Insurance or any kind of insurance, what is the main business. It is to underwrite what the risk is, make a profit on
Over much of the past three decades, i have been an investor. The highest calling of mankind, ive often thought, was private equity. [laughter] and then, i started interviewing. I watched your interviews, so i know how to do some interviews. Ive learned from doing my interviews how leaders make it to the top. Jeff i asked him how much he wanted. He said 250. I said, fine. I didnt negotiate with him. I did no due diligence. David i have something i would like to sell. [laughter] and how they stay there. You dont feel inadequate now because being only the second wealthiest man in the world, is that right . [laughter] Thomas Buberl is the ceo of the axa, one of the Worlds Largest Insurance Companies. I sat down with him to talk about the risks facing global insurers, particularly the war and Climate Change. Explain to people who are not familiar with Life Insurance or Health Insurance or any kind of insurance, what is the main business. It is to underwrite what the risk is, make a profit
Decades, i have been an investor. The highest calling of mankind, ive often thought, was private equity. [laughter] and then i started interviewing. I watched your interviews, so i know how to do some interviews. Ive learned from doing my interviews how leaders make it to the top. Jeff i asked him how much he wanted. He said 250. I said, fine. I didnt negotiate with him. I did no due diligence. David i have something i would like to sell. [laughter] and how they stay there. You dont feel inadequate now because being only the second wealthiest man in the world, is that right . [laughter] Thomas Buberl is the ceo of the exhibit, one of the Worlds Largest Insurance Companies. I sat down with him to talk about the risks facing global insurers, particularly the war and Climate Change. Explain to people who are not familiar with Life Insurance or Health Insurance or any kind of insurance, what is the main business. It is to underwrite what the risk is, make a profit on the premiums you charg