Andrew Milgram - Full-Contact Capitalism - [Invest Like the Best, EP.436]
My guest today is Andrew Milgram. Andrew is the founder of Marblegate Asset Management, an alternative investment firm that invests in credit opportunities and special situations. He joins me to discuss his unique approach to distressed investing in the middle market, revealing how middle market EBITDA has declined 20-25% since 2019, creating what he calls the "K-shaped economy." His investment stories are legendary, particularly his $600+ million bet on NYC taxi medallions, which we go into in great detail. We discuss Marblegate’s approach to negotiation, sourcing deals directly from hundreds of regional banks, and understanding the human element in distressed situations. Please enjoy this conversation with Andrew Milgram. For the full show notes, transcript, and links to mentioned conten
Introduction
PatrickMy guest today is Andrew Milgram. Andrew is the founder of Marblegate Asset Management, an alternative investment firm that invests in credit opportunities and special situations. He joins me to discuss his unique approach to distressed investing in the middle market, revealing how middle market EBITDA has declined 20 to 25% since 2019, creating what he calls the K-shaped economy.
His investment stories are legendary, particularly his $600 million bet on New York City taxi medallions, which we go into in great detail. We discuss Marblegate's approach to negotiation, sourcing deals directly from hundreds of regional banks, and understanding the human element in distress situations. Please enjoy this great conversation with Andrew Milgram.
The K-Shaped Economy
PatrickAndrew, I think you and I have talked about doing this for five years.
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