Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
Today, the Wall Street Journal reported on the rapid expansion of private credit and the risks to retail investors. The industry’s entry into the 401(k) market was cited as exposing retirement funds to risky shadow banks or unregulated lenders. While private credit funds are risk assets, the business development companies covered by the Rabid Capitalist will continue to generate unusually attractive risk-adjusted returns.
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