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Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more. VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/\n__\nFollow VanEck on Twitter https://twitter.com/vaneck_us\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__\nUse code FG10 to get 10% off Blockworks\u2019 Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london\n__\nTimestamps:\n(00:00) Introduction\n(00:50) What Is Private Credit?\n(07:51) Private Credit Is Doing The Riskiest Deals In Leveraged Finance\n(16:04) How Will Private Credit Perform If Defaults Pick-Up? (Very Little Data In Previous Cycles Because The Asset Class Has Grown So Much)\n(19:24) Private Credit Is Very Illiquid\n(20:54) Debt Covenants In Private Credit Are, Admittedly, Usually Very Strong\n(26:31) VanEck Ad\n(27:14) Interplay Between Private Credit and Rest of Fixed Income Universe\n(32:35) Private Equity Is Using Private Credit To Pay Itself Via Dividend Recaps\n(35:13) Private Credit Is Refinancing Some Of The Riskiest Deals In Leveraged Loan Market, Which Perhaps May Be Bullish For Leveraged Loan (& High-Yield Bond) Market\n(38:00) Default Outlook In High-Yield Bond And Leveraged Loan Market\n(43:09) Moderately Bullish View On Duration (I.e. Rates)\n(58:43) Maturity Wall High-Yield Bond Is Very, Very Termed Out\n(01:02:56) Opportunities In Securitized Products Market Appear Interesting\n(01:04:57) Single Borrower Commercial Real Estate Loan Market Offers Interesting Opportunities To Fundamental Credit Investors\n(01:07:48) Most Common Investing Mistake In Credit: Herd Mentality\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.