When I was 11, my father, a businessman who, in his day, took a dubious risk or two, gave me a key lesson in finance and life which I knew was meaningful without understanding it. “You’re not bankrupt,” he said, “until people know you’re bankrupt.”
-Michael Wolff
The question being asked is: which of the PE firms is going to blow up, and when. The place it's being asked is at a luncheon in Monaco, where it's business as usual until the music stops.
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