Kings Don't Buy Flow — Red Deer Investments
Note: This post is general commentary, there's no moneymaker stock pick in here. I just like thinking about life insurance / annuities. I also did not spell check this. About 10 years ago, I remember being in a smelly conference room full of MBB consultants and PE clients discussing the output to the question posed to us - what is Apollo up to with Athene? While there was not much else insightful about that moment to mention today, I do distinctly remember the point person of the PE client's response when the partner on our team described the 5 years Apollo had been at this as a potential barrier to entry. The guy was rather apoplectic and growled, "Are you fucking telling me you don't think we can do this? Do you think we're fucking incapable of executing something like this?" All told, the guy was probably just having a bad day, but they did go on to try, and by most measures, did not succeed given their head start. If you asked me then, 10 years ago, if the project that we worked on