wasabi brainFeb 19

RE: https://mas.to/@newz/116097527508681368

This is real bad for blue owl. Yes it got 99.7% of par value for the assets it sold, but what does that say about the assets still on its books? Did it sell its best assets to meet redemptions and what remains is a poopoo platter that would sell far below par value for what remains?

Show threadwasabi brainFeb 19
For the last two years us skeptics of the economy have pointed to the optimistic valuations in private credit and the huge overhang of commercial real estate debt. Just yesterday the Wall Street journal said lenders have finally stopped extending and pretending so share of bad debt at record highs. Sounds like those times in history when nothing happens and then it all crashes all at once
Show threadwasabi brain
Here you go
Feb 20 at 11:26amWeb