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>> Hi. I'm Sean Andrews, and I'm an Associate
at Ares Management here in Los Angeles.

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Yeah, it's an investment management firm.

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We have a Capitol Markets Division,
a Private Equity/Private Debt.

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And I've been there for little over a
year, coming up on a year and a half.

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And I do a variety of things
for them, mainly valuation.

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I value like different securities
that the company holds,

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trying to help the portfolio managers kind of
have an idea of like how much they're worth and,

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you know, what they would sell
at out there in the market.

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You know, we're mainly fixed income securities,
so bonds, loans, CLOs, pretty much anything.

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I mean, we're a pretty well-diversified company.

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There's a lot of different
ways you can value a security.

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It really just depends.

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I mean, it could be a model that either I
created or even that somebody else has created,

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maybe just for viewing it, to look at
what the inputs are, challenge, you know,

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the assumptions in that model and, you
know, get an idea of like, you know, why --

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what kind of thinking went into it.

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And I think that's one of the really
important things, is just, you know,

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how people really challenge each other
and then, you know, their thought process.

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And there's a lot of other ways that,
you know, you could go about valuation,

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beyond just, you know, creating models.

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I mean, you could, you know, go
out there in the market to brokers

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to see what they're currently selling
the bond at, or you could even --

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you could do a lot of different things, really.

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The information eventually is going to flow
to the front office and the portfolio managers

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who are ultimately the ones
making the investment decisions.

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I mean, so the information can
go to them in the form of a --

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like a spreadsheet, detailing
what the model entails.

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It could be a -- just an email, like
that has a little memo, explaining --

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I guess, it would be qualitatively --

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like what the assumptions and
what went into the valuation.