Investors in the AI Industrial Complex risk getting hit by credit risk in the bond market and the equity market.

The “adult in the room” has ceased to be an adult.

In a world of financialization, the private credit ecosystem in sub-Saharan Africa is actual capitalism in action.

What could go wrong? Plenty, actually. Maybe we should learn from the recent past.

The supply of critical commodities for energy, food and chip production is down sharply since Feb 27, but Alfred E. Market says “everything is fine!”

The US economy is now a meme stock. Discuss.

Blue Owl: What are you going to do when the river runs dry?

Blue Owl loves their loan portfolio so much that they’re selling it off.

Maybe some skepticism is warranted.

We Have to Talk About Donald.

Start with a crooked auto parts holding company. Do all the same things we did with asset backed lending. Act surprised when the Jenga tower collapses.

Continuation Vehicles continue…

My apologies to the three people who tune into this blog. Here is a non-business posting about finding joy somewhere in this insane world.

I wrote about private credit trading, and then Bloomberg wrote about it.

You’re supposed to be paid to take risks, but what if you just want to be paid?

Lots of opinions on this. I’m writing mine here just for posterity.

Empty shelves in USA are coming soon.

Apollo just wants to make things better for everyone.

Klarna steps back from its bear hug of GenAI.

My first post about a favourite topic of mine: private credit.