Marc Lasry was on CNBC today talking about distressed investing in Europe. He interestingly goes into the differences in legal systems in Europe versus the US and how that impacts his style of distressed investing. He also breifly mentions his distate for gold and then talks about the issues pension funds will have in meeting their required rates of return given the risk-free rate. This is why I think best-of-breed alternative asset managers like Blackstone are poised to outperform in the next few years as pension funds realize they need higher non-correlated returns.
Enjoy.
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