Part 7/9:
A recurring concern touches on private credit markets—less transparent, less regulated, and often misunderstood by investors. Jamie Dimon has cautioned about the “cockroaches” dealing in private markets, where there's little visibility into true exposure and risk.
Many institutional investors—endowments, pension funds, universities—have ventured into private credit, often chasing higher yields without fully understanding the underlying risks. These exposures are frequently offshored or hidden, creating what some describe as a ticking time bomb waiting for a trigger.