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b'On this episode of Forward Guidance, Jack Farley is joined by Louis Camhi in this special episode all about SPACs (special purpose acquisition companies), which are basically empty shell companies that go public in order to buy another company. Recently, the performance of SPACs has been in the red because they\'ve become a vehicle for speculation. But Louis argues that if you redeem the SPACs and get the money back, it\'s basically like a bond, pointing out the similarities and demystifying this often misunderstood asset class. You won\'t want to miss this!\\n\\nFollow Louis Camhi on Twitter https://twitter.com/valwithcatalyst\\nFollow Jack Farley on Twitter https://twitter.com/JackFarley96\\nFollow Forward Guidance on Twitter https://twitter.com/ForwardGuidance\\nFollow Blockworks on Twitter https://twitter.com/Blockworks_\\n--\\nAttend DAS, crypto and macro\\u2019s favorite institutional conference: http://digitalassetsummit.co/\\nUse code GUIDANCE250 to get $250 off tickets (Only available this week!)\\n--\\nGet top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/\\n--\\n(00:00) Introduction\\n(12:43) What is a PIPE? (Private Investment Equity)\\n(15:10) What Is A SPAC Sponsor?\\xa0\\n(28:34) Current Opportunity Set Within SPACs\\n(33:00) "Warrants Are The Truth"\\n(35:26) Shorting SPACs\\n(48:52) The Donlad Trump SPAC (DWAC)\\n(50:05) More Aggressive SPAC Strategies\\n(53:40) SPAC Arbitrage and Buy Writes\\n(56:10) Characteristics of SPAC Holders\\n(1:07:12) Where Is The Money Coming From?\\n--\\nDisclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.'