The attraction of private investments is that they don’t have to go down when the market goes down . With any particular private investment, it is possible that this is because the investment manager is just so good at investing that she manages to invest in things that don’t go down. But as a general matter, the explanation is that private investments don’t trade , and so when the market sells off, they don’t

Fwd: Money Stuff: Private Markets Don’t Like to Go Down
from Josh Beckman ✉️