Matt Levine, Columnist

Private Markets Might Be Too Nice

Also Jho Low, Masayoshi Son and floor().

October 31, 2019 at 12:12 PM EDT

Corrected

October 31, 2019 at 1:26 PM EDT

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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I keep banging on the theme that private markets are the new public markets, so I was pleased to see that the Financial Times has a “Big Read” about, uh, that:

This is somewhat funny coming from Larry Fink, who in other contexts spends a lot of time complaining that public markets are too short-term-oriented. “Financial discipline” is just another way of saying “short-termism”! The simple model is:

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