Blue Owl is a hedge fund. It’s been getting heavily into private credit — somewhere companies can borrow money when they don’t want to issue corporate bonds. Private credit does things banks aren’t…
    • YourNetworkIsHaunted@awful.systemsEnglish
      5·
      2 days ago

      There’s gotta be a pithy way of talking about this. I propose “Phantom Funds” - money that investors and analysts expect to be there that ends up not existing when the cards are turned over.

      Why yes this does largely boil down to fraud but without the legal consequences.

      • David Gerard@awful.systemsOPMEnglish
        3·
        8 hours ago

        the AI bubble, the private credit bubble (this one), the Wall St Bitcoin thing, etc. are all about writing down a big number with a $ in front on thin justification, then borrowing against it

        this runs into issues tomorrrow. but not today!