141: Buying an Entire Hedge Fund Tape

Note MBA

Buying an entire hedge fund tape sounds really exciting - and maybe a little scary. Recently, with many of the pricing issue we're all seeing in the market, we've decided that buying an entire hedge fund tape seems to be the only way to get the deals and pricing we want. On today's show we talk about our recent at bat trying to do just that.

Buying an Entire Hedge Fund Tape

We've heard a decent bit of grumbling in the market about pricing - we've even talked about it on the show before. And if we're being honest, we've done some belly aching ourselves. However, belly aching isn't going to solve the problem. So we've been game planning and strategizing on what we can do about it.

Recently, the thought of buying an entire hedge fund tape is one of those ideas we landed on. Now buying an entire tape isn't something new. People have been buying entire hedge fund tapes since the 1980's. We even have some close contacts that have picked up entire tapes - or pools the size of an entire tape.

If you've been in the busy long enough its likely you've even bid on an asset or two and lost on those deals due to someone buying the entire thing.

We recognized a tape that might fit the bill. We did some initial high level due diligence, and things looked good. We knew bids would be due soon, and coming in with an offer on the entire tape was a stick we hadn't swung before. So, we decide we'd do a bit of formal due diligence on the tape to make sure we knew what we were getting into. After some time spent on that the tape was moving from good to great - there looked to be some real cherry deals.

The day before bids were due, we got some follow-up form some boots on the grounds, and took one more look at each asset, line by line, and things fell apart. And it was not for us trying, that's for sure. It was heartbreaking to find ourselves in another situation where we'd done a ton of due diligence only to not have a bid accepted - in this case because we weren't submitting one.

However, we carried forward some valuable lessons. We became increasingly more comfortable with the idea of buying an entire hedge fund tape. We locked down some "must have factors" for an entire tape purchase to make sense. And a few other items. It's a numbers game, and we'll keep stepping up to bat.

Note Expo, Big Live Success & Ohio

We've gotten a few emails about whether we're heading out to Note Expo, and the answer is yes. If you were on the fence, we'd love to see you come out to the event and say "Hi!"

Speaking of event, Robby's life and business coach Michelle Humphrey, has another Big Live Success event happening in November. This event is something you can attend to really get your mental game on point. We've heard feedback from a few different members of the community that have either gone to this event, or hired Michelle to coach them, that have blown past roadblocks and driven some serious success.

I'll be out in Ohio this weekend. So, if you live around those parts and want to meet, or if you have an asset or two you want me to take a look at, send me an email, and I'll see what I can do.

That’s it for this week! Thanks for listening everyone and as always, if you have any questions, comments or potential deals to send our way, email us at [e-mail].

Listen & Watch this Week’s Show to Learn:

• The Event Coming Up With Robby's Coach Michelle
• We Are Headed Out To Note Expo
• Buying an Entire Hedge Fund Tape
• And much more!

Featured on the Show:

• Note Investing Academy
• Note Expo
• Big Live Success Business Event
• Note MBA Facebook Page
• Due Diligence Pro
• Hardwiring Happiness

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Thanks for listening to our show! We’ll be back next Wednesday morning.

Cheers,

Chase & Robby