Tricera-stocks

In Steven Spielberg’s Jurassic Park, palaeontologist Dr. Grant delivers an iconic line: “Don’t move. He can’t see us if we don’t move.” It can be argued that private equity investors have adopted a similar approach to assessing asset valuation and volatility; if you can’t see it, it doesn’t move. These investors receive valuations in a way that may suggest stability and less risk compared to other classes. But just because an investor doesn’t see constant price changes, like in daily markets, it does not mean they are shielded from value volatility. Shaul Rosten argues that public markets...