My wise friend watched the video and wrote:
Great time of the season to remind everyone it's all fun and games when your forty year financial plans are the result of modeled numbers always going up, collecting fees on capital (which is gated), accommodative monetary policy, leverage and regulatory capture (which just facilitated the 401K dumpster dive into private equity, private credit and alternatives). Blackstone's video provided another kick in the backside for the public with Bernie Sanders' sidekick, Danny DeVito delivering the message: "Principles are nice, but principal creates vice."
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Call me when Blackstone's portfolio goes from bucolic to bubonic. Ho, ho, ho ....
Will do! Who'd have thought the kids (retirees) would be giving their presents to Santa (the PEU boys) in the form of their retirement money?
