Marc Rowan, First Republic, Stagflation, and AI (Podcast)
Bloomberg Intelligence
00:00
The Business Model of a Regional Bank
I'll be shocked if five years from now the business model of a regional bank looks like what they do today. LDI was nothing more than a misplaced expectation in the part of UK institutions that public securities were liquid. We have that same and certain open-ended mutual funds. I think Blackstone is doing exactly the right thing by teaching investors that alternatives are not an ATM.
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