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The Fed Put Still Lives | Vincent Daniel

Forward Guidance

CHAPTER

The Similarity Between Private Equity and the Banks

The phenomenon of large financial institutions not marking things to book was a big theme in 2005, six, seven, and eight. In what ways do you see a similarity there? Or is it a lot? There is a similarity, but there's so many differences as well. It's not nearly as bad because the underlying private equity structures are materially better than the banks.

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