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Yes, it's bullshit, but when their LPs ask "How's it going?", reporting paper gains is how they get off the hot seat and/or raise the next fund.
by hugs 10y ago
Yes, it's bullshit, but when their LPs ask "How's it going?", reporting paper gains is how they get off the hot seat and/or raise the next fund.
- __derek__ 10y agoThat sounds curiously similar to a certain geometric scheme.
- cloudjacker 10y agonobody with connections gets their funds frozen in an SEC emergency asset injucture, or FTC investigation the only way to get your liquidity ponzi scheme funds frozen by regulators is to: a) lose money b) not know any regulators If you got a) and b) covered, then you can start as many funds as you want, issue or rollover as many bonds as you want, dilute as much equity as you want keep the gravy train rolling