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and also our strategy is probably one of the only strategies that were aware of that benefits from higher tax rates so in some ways were effectively a call option for an increase in tax rates and really when you bring up music royalties thats a great parallel we dont think were all that different from the Pharma or music royal these days unfortunately what we do isnt ever going to be as sexy as lines say Taylor Swift or Justin Biebers music catalog but still Pharma royalties theyre both relatively new asset classes that bear a lot of similarities to tras theyre long-dated annuity-like cash flow streams that are generally uncorrelated to broader market performance hello and welcome to signals by alphasense where we hear thoughtful insights from Business Leaders investors and experts hello and welcome you listen to signals by Alpha sense and Im your host Nick mazing today were going to talk about tax receivable agreements or theoras for short as an emerging asset class the Era
