Fixed + Floating - The Credit Podcast
Jun 23, 2026 · 59 min · 14 segments
Each AI company can price itself on an internally consistent story about winning its market. Sum those stories and the implied revenues exceed any market that could exist — the big market delusion…
Aswath DamodaranGuest
Josef PschornHost
Who are these lunatics who are lending money to the data centers? I think private credit is vastly overrated for intelligence.
Who in their right mind should be lending to that company? The equity narrative is setting what you charge the company.
I'm very pleased to welcome Aswad Demodaran, professor at NYU Stern, who is focusing on corporate finance and valuation.
Today, we are going to talk about the intersection of credit and equity investing.
Read the full transcript.
Create an account to read the whole episode, search across every transcript, and follow the shows you care about.
Who are these lunatics who are lending money to the data centers? I think private credit is vastly overrated for intelligence.
Who in their right mind should be lending to that company? The equity narrative is setting what you charge the company.
I'm very pleased to welcome Aswad Demodaran, professor at NYU Stern, who is focusing on corporate finance and valuation.
Today, we are going to talk about the intersection of credit and equity investing.