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0:00 Intro
1:32 The Money in the Shadows
5:54 Asia Looks Untouchable
7:06 The Money Already in the Fire
8:40 The Next One Is Being Built Here
9:32 What This Does to Your Money
11:34 Where This Goes Next

Just over a week ago, one of the largest investment firms on the planet told a room full of wealthy clients they couldn't have their money back. Apollo had 17% of investors in one of its funds lining up to leave, and not enough cash to let them out. So it locked the door. BlackRock, Blackstone and Blue Owl had already done the same.

Welcome to private credit. A $2 trillion market almost nobody outside finance can even define. It is twice the size of the subprime market that broke the world in 2008. For years the funds promised losses were almost impossible. That is the exact line subprime lenders used in 2007.

In this video I explain what private credit really is, why some of the sharpest people in finance are comparing today to the months before 2008, and why assuming you're safe in Asia might be the most dangerous mistake of all.

#PrivateCredit #FinancialCrisis #Asia