It is extraordinary how the combination of financial illiteracy and agency costs creates such a lucrative hunting ground for the financial hyenas.

In many cases the qualifications to get into a decision making position of a large dumb institution is being pleasant and the ability to engage in executive discourse. This is of course dangerous and toxic for the ultimate holders of what ever packaged financial crap they go along with. The private equity aka private debt crowd have run out of institutional idiots and are now praying on individuals directly through financial advisors.

All we can do as individuals is understand what we own and avoid financial sales people that use made up terms like dynamic equity, alternative investments.

Obviously the political classes should protect their citizens with regulation but that train has left the station. Rome has just about fallen. Prepare for difficult times ahead as the consequences of all of this malaise eventually manifests in major problems for everyone. This private equity crap is just one of the cancers out there that could eventually kill the patient.

“Democratisation of private markets.” Please! Obviously this is unloading their crap onto someone else and dressing it up as like putting lipstick on the pig.

What did Charlie say? They would sell shit if they could get away with it. Sums it up pretty well.