Gurley argues private companies now have more capital than incumbents for the first time in history.
“And for the first time in history, I believe private companies are the ones with more money and are attacking the long held incumbents, which is a radical thing to think about.”
Gurley argues Yale has had more impact on endowment management strategy than any other institution.
“I would argue no single institution's had a bigger impact on the strategy of endowment management than Yale.”
Gurley argues 2024's 30% Nasdaq gain with closed IPO window defies historical correlation, pointing to bank-forced discounts.
“I believe a part of it I've been very passionate about is the IPO discount that the banks force upon the market, especially the well known high branded ones.”
“He said, the head of the world's largest sovereign wealth fund said the clock is ticking for private equity and join the chorus of investors who've grown worried about the industry's valuation practices.”