This episode features Blair Jacobson, Co-President of Ares Management Corporation, discussing private credit investment strategies, risk management, and firm growth. He shares insights on how Ares maintains a conservative approach to avoid losses, the importance of relationships and reputation in deal origination, and the firm's expanding areas like asset-backed credit and wealth management. Blair also touches on the evolving role of credit ratings in private markets, the firm's involvement in sports investments, and offers advice for young professionals entering finance amidst technological disruption.

Chapters:

00:00 What could go wrong in private credit

1:34 How prepared is Ares for a downturn

6:55 Football & sports investment – Chelsea & Athletico Madrid

10:17 Finding sports investment opportunities

10:58 How does Ares find new business

14:57 Finding lucrative deals

16:07 Private credit ratings

18:56 Big insurers moving into private credit

20:13 Building a career in the AI era

22:13 "Relationship training"

24:00 Why is Ares Co-Founder Michael Arougheti so successful

Recording date: 18 February 2026.

Joe Cass sits down with Kunal Shah, Co-CEO of Goldman Sachs International & Global Co-Head of FICC, to unpack the surprising story behind becoming one of the firm's youngest-ever Managing Directors at 27—and what that experience taught him about performance, mentorship, and taking the right risks at the right time.

Timestamps:

00:00 – 5:08 Becoming the youngest ever MD at Goldman Sachs

5:08 – 7:06 Day in the life of a Co-CEO

7:06 – 9:48 Goldman Sachs client concerns on AI

9:48 – 10:25 Goldman Sachs internal AI platform

10:25 – 12:51 How to build successful relationships

12:51 – 16:00 How does Goldman Sachs use credit ratings?

16:00 – 17:45 Day in the life on an EM trading desk at Goldman Sachs

17:45 = 19:37 Phycological impact of financial trading

19:37 – 21:33 Teaching new traders at Goldman Sachs

21:33 – 22:23 Hedge funds looking at Drama graduates

22:23 – 24:07 What do people assume about working at Goldman Sachs that isn't true?

24:07 – 26:13 What is EMPower?

26:13 – 27:19 Kunal's view of Industry TV series and Wall Street movies

27:19 Kunal's alternative career path

Join Joe Cass as he interviews Andrew Balls, PIMCO's CIO for Global Fixed Income, to explore the intricacies of decision-making in finance, particularly under psychological pressure. In this insightful discussion, Andrew shares his strategies for managing stress while making high-stakes decisions that can impact billions of dollars.

Whether you're a finance professional or simply interested in the dynamics of investment management, this conversation offers valuable insights into the future of finance and the evolving landscape of investment strategies.

Chapters:
00:43 – 3:13 The Psychology of Managing Billions of Dollars
3:13 – 5:11 Public Bond Issuance Predictions
5:11 – 11:49 AI/Datacentre Predictions
11:49 – 16:43 The Meta Datacentre Transaction
16:43 – 19:58 How Are PIMCO Using AI To Invest?
19:58 – 23:26 PIMCO's Clients & Their Priorities
23:26 – 25:33 Why Didn't Andrew Choose Politics?
25:33 – 27:30 Andrew's Move From The FT to PIMCO
27:30 – 29:46 Transitioning To Portfolio Management
29:46 – 33:25 Andrew on Mohamed El-Erian & Bill Gross
33:25 – Close Watching Football & Playing The Drums