Private credit has this sort of extend and pretend ability with, you know, they're creatures of the private equity firms. They don't want to admit a bankruptcy. They just do an amendment, and they keep rolling over. And i think that what's ended up happening is that private equity made a switch from being ing levered small cap value, to being leveredsmall cap growth. So why take both in one illiquid package? And yet, growth was what worked last decade, so they didn't get punished for doing that. In fact, they got rewarded for it. The key acid test is what happens next year when we start to see cracks r k oan go down.
In this episode of Infinite Loops we speak with Dan Rasmussen, founder and CIO of Verdad Advisers. We discuss:
- Bubbles vs. Crises
- Investing in Emerging Markets
- Identifying when "value investing" works, and when it doesn't
- Theory vs. Practice
- And a LOT more!
Follow Dan on Twitter at
https://twitter.com/verdadcap and learn more about Verdad Advisers here:
https://verdadcap.com/