"Sorry, Busy Rating Private Credit Deals" (June 3, 2025) This post showcases Edward Quince at his satirical best, taking aim at the booming private credit market. He mocks the idea of a tiny team of analysts assigning investment-grade ratings to thousands of private credit deals, humorously pointing out the cognitive dissonance of assuming a loan carrying a double-digit interest rate is somehow safe It is a brilliant, bite-sized critique of how Wall Street often obscures risk.
"We think they are days from failure. They think it is a temporary problem. This disconnect is dangerous."
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Edward Quince’s Wisdom Bites: OPV Page 419
“The best business is where no one else competes, where you buy for one cent and sell for a dollar and it's habit-forming and no one e...
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