Jeff Blazek
speaker
496 appearances
1 recordings
1 series
first heard Feb 2026
last heard 13 Feb
Jeff Blazek’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Feb 2026 with 1.
Appearances
And volatility B has full daily liquidity every day, but it gives you a cumulative return of 12%.
I don't care what the assumptions are on how you marked A versus B. A lot of investors will say, I want A because it's higher returning.
And that is economically proven because when I invested in it day one, I gave this amount of money.
And now 15 years have gone by and I have 15% per year more to my name versus if I had done it in a liquid equity construct, I'd have 12% per year more to my name.
Now, let's say A and B are the same, where they're both giving you 12% per year.
And A, you only get your capital back after 15 years goes by.
And B, you can have it tomorrow.
Of course, I'll take investment B then, right?
I would rather have the transparent, fully liquid investment if they give me identical returns.
And I think that's where Cliff's point is fair.
But the premise should be that privates are giving you a material multiple percentage point per year advantage in return that you should earn.
And that is measurable.
So the volatility, we don't really worry so much about.
We measure cash on cash.
We measure how over the lifetime of the private investments did it fare against a comparable public market equivalent, a PME as we call it.
I guess you should really ask,
Yeah, and by the way, if you're getting excessive volatility, some of it could be the underlying asset you own, like equities or speculative equities.
A lot of it is probably leverage.
And leverage is a different type of volatility ingredient that can be dangerous because it can take you to zero.
Straight linear equities unlevered
Showing 181–200 of 496 · page 10 of 25
← Previous
Next →