I visited the Temple of Apollo on Ortigia yesterday on a family vacation. Apollo's oracle at Delphi is where the god's most famous instruction to mortals came from: know thyself. An honest accounting of what you are, taken before you act, is the discipline the maxim demands.

Headlines may get worse for BDC managers even if the redemption stress has peaked, says industry veteran Mark Goldberg.

Semi-liquid private credit funds are a clear example of both causation and inevitability. Traditional institutional private credit largely operated under a relatively straightforward arrangement.

This article is a follow-up to “Prediction Markets: A Scandal Hiding in Plain Sight,” which examined how structuring wagers as derivatives and embedding them inside brokerage accounts erodes household wealth and distorts capital formation.