Who Will Be the Next Larry Fink?
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
- The muscles of portfolio construction and valuation atrophy, as consensus-driven ‘access’ dominates behavior and idiosyncratic risk falls out of favour.
- The typical ‘power law’ distribution of outputs collapses as few genuine outliers can be realised from a concentrated pattern of investment.
- As returns converge on a mediocre market-rate, investors
WIll Manidis • Risk Capital - Credistick
“I keep coming back to J.P. Morgan,” said Nithin Nohria, the historian of American business history. “Morgan wanted to be a part of the financiers of his time, but also independent of them in an important way. His view was that you could be the trusted party, the person and institution that could be trusted to anchor the broader movement of capital... See more