15min chapter

The Phil Bak Podcast cover image

Cliff Asness: The Cliff Factor

The Phil Bak Podcast

CHAPTER

Navigating the Private Equity Landscape

This chapter explores the complexities of private equity, focusing on the illiquidity premium and its evolving perception among investors. It examines the interplay of volatility and risk, discussing concepts like 'volatility laundering' and its misleading effects on investment decisions. Through personal anecdotes, the chapter highlights the importance of honest communication in the investment industry and the dynamics between public and private markets.

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