Neglected Risks in Private Markets with Martin Schmalz | Markus' Academy | Ep. 163

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For our latest episode, Martin Schmalz joined us for a conversation on the neglected risks in private markets. Schmalz is a Professor of Finance, Economics, and Real Estate at Oxford's Saïd Business School.Timestamps:[05:24] Returns aren't what they used to be[15:25] Reported vs. realized returns[26:47] Diversification myths and concentration risk[37:00] Opaque fee structures[46:45] Liquidity, systemic, and agency risks