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Apollo Global Management (Apo) CEO Marc Rowan has a different rate from Oracle de Omaha. (Dissemination: Yahoo Finance is owned by Apollo Global Management.)
“I do not (I agree with Warren Buffett on rates as a weapon)”, co -founder and CEO of Apollo Global Marc Rowan He told Yahoo Finance on Monday at the Milken Institute Global Conference.
Buffet talked aggressively about rates At Berkshire Hathaway’s annual meeting over the weekend, calling them “weapon”. The investor billionaire made a case for free trade.
“I think there are smart rates and there are stupid rates. The rate is just a tool. A weapon gives it a political context or other things,” said Rowan.
He added: “They (rates) certainly cause a sudden adjustment.”
The results of the first quarter of Apollo reflected the most volatile background for risky assets.
Read -Ne More: What do Trump’s rates mean for the economy and your portfolio
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Total revenue related to rates increased by 16.6% from the previous year to $ 978 million, and the adjusted results increased by $ 8% to $ 1.85.
But Apollo’s dissemination revenue obtained from insurance assets to $ 804 million, slightly less than analysts’ estimates. Based on the performance of $ 14 million were also shy of estimates, as the market curtain made more difficult to sell investments for benefits.
The company said he put about $ 25 billion to work after “Day of release“Dyslocations, mainly in public debt markets.
Rowan told the trends that he sees the vast portfolio of Apollo companies: “We do not think of our portfolio as a focus on the United States, and to a lesser extent, a European -focused portfolio stops hiring, stop making movements.”
Brian sozzi He is the executive publisher of Yahoo Finance. Follow Sozzi Ax @Briansozzi, Instagramand Linkedin. Tips on stories? Send an email to brian.sozzi@yahoofinance.com.
