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Sami Al-Bashir, CFA
Co-Founder & Chief Financial Officer
Sami Al-Bashir, CFA, is the Co-Founder and Chief Financial Officer (CFO) at Business Sports and Media Ltd, based in London.2 He has a background in investment banking.13 While specific details about his career and achievements are limited in the provided search results, his role as a co-founder and CFO suggests he has significant experience in finance and business management, particularly in the sports and media sectors.
As a Chartered Financial Analyst (CFA) charterholder, Al-Bashir likely possesses advanced knowledge in investment analysis, portfolio management, and other areas of finance. This credential is widely respected in the financial industry and indicates a high level of expertise.23
It's worth noting that the information available is limited, and there may be more recent developments or additional details about Sami Al-Bashir's career that are not captured in the provided search results.
Highlights
The credit / distressed cycle is definitely playing out differently than in the past when much of the action was in the public high yield and asset backed spaces. Today with the huge amount of alternative lending (private credit) that took place since the GFC during the days of ZIRP a lot of the drama is playing out under the surface, which this article nicely summarizes. Don’t be fooled about the relatively benign environment - there is a huge amount of distress and restructuring out there that is less transparent than past cycles.
This article presents the opportunity for a thought experiment - can an investment firm, no matter how well resourced, consistently outperform while charging fees that represent over 50% of gains? This isn’t to pick on hedge funds, it could be in any strategy.
My personal view is that in investing (and maybe life) a useful rule of thumb is focusing obsessively on what you can control. Case in point:
-Future fees and expenses: are relatively controllable and can be reasonably estimated
- Future returns: completely uncontrollable, even for the best managers, with random outcomes being the norm
Yet most of the industry’s time and effort is spent on the uncontrollable, which often entails analyzing past performance (heavily influenced by random outcomes) leading to pro-cyclical allocations - better known as performance chasing.
Next time you’re performing due diligence on an investment stop and ask yourself if you’re spending most of your time on the controllable or uncontrollable.
#fees #hedgefunds #investing
