Argentine oil, digital assets and macro with David Tawil, CEO of Prochain Capital

What’s said in this shiur

The opening of this shiur, in David Tawil’s own words — taken from the captions, so names and Hebrew terms may be approximate.

Thank you very much for joining me on the Trilateral podcast. I'm here with David Towel, president of ProChain Capital. David, thank you very much for joining me today. >> Thank you so much for having me, Max. >> David, you traded distress debt through some of the most volatile periods in recent financial history. How does that shape how you approach risk today? >> So, many people will say that volatility is a good gauge for risk. Um, however, I would say most distressed investors and most event driven, investors and most event driven, especially situation investors, if they call themselves that, uh, don't see volatility as a good gauge of risk. Um those investors are valued driven investors uh like myself and the only thing they care about is profitability of an investment. And so if an investment starts at point X and rises directly to point Y, it is the rises directly to point Y, it is the same as starting at point X, rising and falling, rising and falling, and finally getting to point Y. As long as you held onto that investment all along, the net profitability is exactly the same. And so having experienced volatile times, I've learned that lesson very well. I've learned to be a contrarian uh in most situations. uh in most situations. And lastly, um to know that if there is a depreciation in the price of an asset that I was bullish on at a higher price, I may want to go ahead and take the opportunity to average cost down when that price drops because my expectation for the eventual exit is going to be much higher. is an industry that you need sort of a thicker skin in to be able to get past those

Jump to a moment

1. 0:00Thank you very much for joining me on the Trilateral podcast. I'm here with David Towel,…
2. 3:11thick skin and you need to know that you're a contrarian investor and it's it's usually…
3. 6:46Argentina and so for the first time I was operating a company but I couldn't see…
4. 9:53going on all at once while I'm first stepping into the CEO role of a company…
5. 13:32cryptocurrency. Cryptocurrency I believe has a really long life to it. Um maybe eternal. Uh but…
6. 17:07wealthiest family in Argentina, British Petroleum, and the Chinese oil stateowned oil company, CNO, CN O.…
7. 20:13only public securities, you can tokenize private securities. I think it starts to become more interesting.…
8. 23:53about your investment um you know this feeds really well into prediction markets also which are…
9. 27:03in the world. Um even if the price is higher um and so therefore the top…
10. 30:42influence over other parts of the world. Um you know de democracy versus other forms of…

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