Justin Rowe-Roberts

Investment fanatic. Sports lover. Maverick

[Patrick OShaughnessy @patrick_oshag]

Private credit is one of the most discussed topics in markets right now, and there is a lot to make sense of. The current discourse is almost entirely focused on symptoms. Alan Waxman has spent the time diagnosing the root cause.

Alan runs Sixth Street, a $130 billion private capital firm, and thinks about the financial system the way a historian would, studying the incentives, guardrails, and market structure that determine how things play out.

In our conversation, he traces the evolution of American finance from the 1929 crash through Glass-Steagall, the GFC, and Basel III to explain how we arrived at what he calls the factory model, the industrialization of capital raising and deployment that he believes is the root cause of everything happening in private markets today.

He also shares his one-sheet personal organization system that he has used for 25 years, his framework for the decades of a career, and what the concept of facing the tiger means for his firm in this environment.

This is my second conversation with Alan (our first one is one of my favorites) and I encourage you to watch the episode because of how visceral his intensity and focus are.

Enjoy!

Timestamps:
0:00 Intro
13:48 The Rise of Private Capital
16:29 The Factory Model
22:19 The Wealth Channel
30:53 Asset-Liability Mismatches
44:17 AI & Creative Destruction
47:30 Personal Organization System
54:02 Career Eras & Success
59:19 Face the Tiger

[Sólionath @Anarseldain]

He really is the best poster of all time.

[Charlie Kirk @charliekirk11]

Vice President JD Vance has a powerful message for young men 🔥🔥

“My message to young men is don’t allow this broken culture to send you a message that you’re a bad person because you’re a man, because you like to tell a joke, because you like to have a beer with your friends, or because you’re competitive.

Our culture “wants to turn everybody, whether male or female, into androgynous idiots who think the same, talk the same, and act the same.”

“We actually think God made male and female for a purpose, and we want you guys to thrive as young men, and as young women. And we’re going to help with our public policy to make it possible to do that.”

Amen.

[Robbie Williams @robbiewilliams]

Cape Town: last night was special. Next time I won’t leave it so long until I come back.
I love you all.
Rob x

[Justin Rowe-Roberts @Rowe_Roberts]

Start of the work year! LFG

[Justin Rowe-Roberts @Rowe_Roberts]

@Nikie_Jairo11 Louder for the people at the back

[King Nikie Jairo @Nikie_Jairo11]

My two biggest fears is being broke and fat!

[Justin Rowe-Roberts @Rowe_Roberts]

@Nikie_Jairo11 I need to pump the breaks!

[Justin Rowe-Roberts @Rowe_Roberts]

@VivekGRamaswamy Shut it down!

[Justin Rowe-Roberts @Rowe_Roberts]

#MAGA

[Tour Golf (not PGA Tour) @PGATUOR]

We have lost over 2 thousand followers after posting this.

How do we feel?

We feel like we just got rid of TopFlites that have been sitting in our bag.

🇺🇸

[Ben Shapiro @benshapiro]

A shocking and tragic day for the nation -- and an amazing, heroic response from President Trump.

You cannot repeatedly and endlessly label a major party candidate and former president Actual Hitler, a full-scale threat to democracy, without radically increasing the danger of violence in America.

This danger has been obvious for years -- and engaged in by nearly everyone on the Left, up to and including the current president.

We are in a hideously ugly new era.

[Bill Ackman @BillAckman]

Am must watch: @benshapiro on the media:

[Justin Rowe-Roberts @Rowe_Roberts]

@jaysqueezi Amazing…love this. Quality player & well deserved. Superb debut - hopefully first of many in the green & gold 🇿🇦

[Jordan Flax @flaxy_jol]

Some very powerful speeches from RSA leaders in this thread, backing the President & the GNU, but also promising to hold it accountable.
I hope this term is 1 of change, positivity and collaboration.
Let's work to solve our challenges and build a reunited South Africa 🇿🇦🙏

[SuperSport Rugby @SSRugby]

🗣️ "We can't let them script our movie boys."

Goosebumps stuff from Jacques Nienaber's speech before the World Cup final..

💻 Stream all five episodes of #ChasingTheSun2 on Catch Up.

[Justin Rowe-Roberts @Rowe_Roberts]

@madaboutmarkets @TefoManoto The CFA Program has got significantly more challenging since 2001

Pass marks below since inception of CFA Program

https://t.co/lUCaKpqZhC

[Justin Rowe-Roberts @Rowe_Roberts]

@HudsonsBurgers fights for that inch

https://t.co/r2UtXCq0bC

[Vivek Ramaswamy @VivekGRamaswamy]

TRUTH.

1. God is real.
2. There are two genders.
3. Human flourishing requires fossil fuels.
4. Reverse racism is racism.
5. An open border is no border.
6. Parents determine the education of their children.
7. The nuclear family is the greatest form of governance known to mankind.
8. Capitalism lifts people up from poverty.
9. There are three branches of the U.S. government, not four.
10. The U.S. Constitution is the strongest guarantor of freedoms in history.