Meanwhile, in Markets

[Week 25, 2025] Imitation and Inheritance

Welcome back to Price and Prejudice with a few musings from Week 25 of 2025. Stablecoins and the Great Disintermediation The stablecoins, which are cryptocurrencies designed to maintain a stable value typically pegged to a fiat currency like the U.S. Dollar, are having another moment. This WSJ piece reports

Everything is Finance

[Week 24, 2025] Capital Allocation and Human Resource Problems

Welcome back to Price and Prejudice with a few notes from Week 24 of 2025, connecting headlines to deeper themes in markets and human behavior. Battle of Business Models This FT piece explores how Blackstone, KKR, and Apollo – once near-identical leveraged buyout shops – are pursuing radically different strategies as market