Apollo Global CEO Black Sees Possible Downturn After Next Election

The speaker discusses the founding of Apollo during a recession, leveraging their expertise in capital structures to navigate economic downturns. They highlight the importance of strategic debt buying and restructuring, reflecting on past cycles and current economic conditions. The focus is on being prepared for future downturns by studying industries and capital structures, aiming to find value in investments.

What was the economic environment like when Apollo was founded?

• A global recession

• A period of economic boom

• A time of high inflation

• A stable economic phase

What was a key factor in Apollo's initial success?

• High consumer confidence

• Low interest rates

• Support from a French bank

• Government subsidies

What is one of the main strategies Apollo uses during market dislocations?

• Avoiding any investments

• Investing in new startups

• Focusing on technology stocks

• Buying debt at discounts

How many cyclical downturns has Apollo navigated in the past 29 years?

• Four

• Three

• Five

• Two

What was Apollo's approach during the Great Recession?

• Investing in real estate

• Focusing solely on technology

• Backing up the trucks with conviction on credit

• Avoiding all investments

What is a key aspect of Apollo's preparation for future market cycles?

• Relying on government forecasts

• Studying hundreds of credits and capital structures

• Investing only in safe assets

• Predicting exact market movements

What is the current economic outlook according to the speaker?

• A certain upcoming recession

• Unpredictable with no clear trends

• Continued economic growth with low inflation

• High inflation and low growth