Evolution of Financial Market Perceptions

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The chapter explores the changing perceptions and practices in the financial market, highlighting the shift towards private credit and the importance of liquidity levels in different asset classes. It discusses the traditional views on public and private assets, emphasizing the evolving landscape driven by market conditions. The conversation also touches on regulatory impacts on private institutions, comparing the financial market frameworks in different sectors.

Marc Rowan, co-founder and CEO of Apollo Global Management, joined Tyler to discuss why rising interest rates won't hurt Apollo's profitability, why liabilities have traditionally been the weak spot in insurance, why the concept of liquidity needs a rethink, the meaninglessness of the term "private credit", what role crypto will play in American finance, why Marc bought a brutalist apartment, which country has beautiful new neighborhoods, what motivated Apollo's office redesign, what he looks for in young hires, the different kind of decision-making required in debt versus private equity, the biggest obstacle to doing business in India, how university governance can be improved, what he's learned from running restaurants, the next thing he'll learn, and more.

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Recorded February 5th, 2024.

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