Michael Arougheti, President of Ares Management
The Walker Webcast
00:00
Why Do People Overvalue Liquidity?
I've heard you say previously that people overvalue liquidity. But when you're in markets like this, where rates are bouncing around the way that they are, liquidity has an impact in different parts of the market. We saw it first pop up in the UK with the LDI issues. You see it now with SVV. It's been a real mind shift in the investment community to say, okay, now understanding that liquidity may not be what I want it to be or need it to be as a tool,. Let me make sure that I'm maximizing the return I get on the illiquid side of my portfolio.
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