Craig Effron of Scoggin Capital was on Bloomberg today. He discussed some of his current positions as well as his thoughts on CDS. Scoggin likes the asset managers in the U.S. He thinks the rate of return on bonds is so low that pension funds etc. will need to put money into alternative assets in order to meet their obligations. The act of reaching for higher yield/returns should push up AUM in the publicly traded alternative asset managers (think Blackstone, Apollo Group, KKR, Och-Ziff, Fortress, etc.).
For those who aren't familiar with Scoggin, they were seeded by Paul Tudor Jones and have had really good returns.