Apollo's Rowan: Most of the Pain Will Be Borne by Equity

The video discusses the role of alternative investments, emphasizing the need for investor education on liquidity trade-offs. It compares past and present market excesses, highlighting differences in funding methods. The speaker suggests that while distress is expected, it won't mirror the 2008 crisis. The future investment landscape is predicted to be challenging, with alternatives playing a larger role. The transition from hyper liquidity to a more normalized market environment is also examined, with a focus on the implications of higher interest rates.

What factors contribute to the current market being described as less liquid?

In what ways does the speaker believe the last decade was an anomaly?