Hamilton Lane published its annual 100+ pages market review
- Private markets vs public markets
- Deal valuation
- Primary buyout vs sponsor by sponsor trends
- Fundraising
A lot to dive in!
1/16 🧵
DPI by Vintage Year
RIP Charlie Munger
I'll always remember him for this talk he gave on the Psychology of Human Misjudgement.
If you have an hour, it's well worth the time:
You’re likely not going to be able to go skiing at 70.
You can no longer do the season in Ibiza at 45.
Some experiences are only available to you right now.
Go and do them.
Imagine McDonald's makes its own money, let's call them clown-bucks, keeps most of it, and sells some to the market.
McDonald's then uses their remaining clown-bucks as collateral for actual loans.
And then people remember clown-bucks aren't real.
Chris Rock on who teaches kids at school:
“Teachers do one half, bullies do the other. And learning how to deal with bullies is the half you’ll actually use as a grownup.”
"Essentially, when things get bad, most people figure it out. They find a way to make rent, to stay in business, to work a full-time job even as they care for children or sick relatives. Many forecasters seem to have underestimated this resilience."
https://t.co/1UYeUsA51P