Jason Mudrick believes he's going to be very busy over the next three-to-five years —  the distressed investing expert sees trillions in opportunities, and he said it's only the "first inning" of the cycle. Mudrick, whose eponymous firm runs $2.4 billion, said on a webinar hosted by Anthony Scaramucci's Skybridge Capital Tuesday that companies that service travel industries — like airline internet services — are clear examples of potential opportunities. While the long-running bull market hurt many distress investors, Mudrick believes his firm's relatively smaller size helped them find opportunities in smaller companies when there weren't many in the market.