Selling to yourself with not even a token attempt to publicly market the company and solicit the highest bid.
Where the fuck is the SEC?
A better question is how do we short a basket of continuation funds?
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They’re doing nothing wrong! It was a 5-year fund - they had to exit and return capital to investors. The company was still undervalued so it wasn’t ready for IPO, so they just had to continue bringing this great opportunity to the investors of their new fund!
@boredsocial If you’re serious - the best thing you can do is look at upcoming IPOs and check the valuation, ownership and fund raising history of those companies. SPACs provided a ton of PE exit scams that tanked 80%+.
For example, Heliogen (Bill Gates backed future tech!!!):
Shockingly the stock tanked from it’s $15+ peak to a whole $0.30…and the valuation is now ~60m.
Lol what a scam, they underprice the deal with themselves to coerce existing investors into staying in the next fund, how the fuck are institutional investors still giving money to these assholes. The returns are no better than VTSAX and you have no liquidity.
The scam runs deep. My friend works for a real estate fund. They pitch this shit to random pension funds like lumberjacks in MI. Of course the funds also have advisors so it’s just fees on fees on fees.
And, undoubtedly, kickbacks.
This video is pretty infuriating.
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Maybe the gold standard loons are actually right
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Lol this guy is way better at hating on PE than I am lol. I only thought I was good until I watched this. Holy shit. This is amazing.
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It’s all made up. They know it’s all made up. So why not keep making more shit up? Who’s gonna call em on it who is in the know? They’re too busy making shit up.
As always, being a middle man and collecting fees is the path to wealth.
What blows my mind is how all these institutional investors inevitably do far worse than if they fired all their investment management people and invested all their money in index funds or a life strategy fund. How does this bullshit persist.
Life is connections.
Need an index fund that just invests in shit that Cramer says to sell.
How does it perform against the S&P 500?
Is Carvana another Reddit meme stock?
Something like that.