Vlad Barbalat
CIO, Liberty Mutual Investments
“should multiples be actually lower across the board?... the future is so unpredictable that how could I possibly place some higher multiple on something?”
“Would I be worried about holding 30 year credit on Salesforce or Oracle... a much, much riskier proposition... that should drive steepness in credit curves.”
“if you build a fortress balance sheet, you're able to do things that others will not.”
Vlad Barbalat
One-line summary: CIO of Liberty Mutual Investments; tracked for views on multiples, long-dated credit risk, and fortress-balance-sheet investing.
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Speaker-attributed claims extracted from diarized sources. Each bullet mirrors one entry in quotes: frontmatter — keep them in sync.
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On ai-terminal-value-uncertainty-to-credit-curve-steepening:
"should multiples be actually lower across the board?... the future is so unpredictable that how could I possibly place some higher multiple on something?" — 2026-06-23-podcast-invest-like-the-best-vlad-barbalat-investing-120-billion-in-permanent (2026-06-23)
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On ai-terminal-value-uncertainty-to-credit-curve-steepening:
"Would I be worried about holding 30 year credit on Salesforce or Oracle... a much, much riskier proposition... that should drive steepness in credit curves." — 2026-06-23-podcast-invest-like-the-best-vlad-barbalat-investing-120-billion-in-permanent (2026-06-23)
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"if you build a fortress balance sheet, you're able to do things that others will not." — 2026-06-23-podcast-invest-like-the-best-vlad-barbalat-investing-120-billion-in-permanent (2026-06-23)
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