What Really Matters?
The Memo by Howard Marks
00:00
The Volatility Laundering, Return Manipulation and Phoney Happiness of Private Equity
The first nine months of 2022 constituted one of the worst periods on record for both stocks and bonds. Many private equity and private debt funds are reporting only small losses for the year to date. A new paper from three academics at the University of Florida argues that private equity fund managers manipulate returns to cater to their investors.
Transcript
Play full episode
