Onex targeted $8 billion for the sixth version of its flagship fund but had generated just $2 billion as of February, including $1.5 billion of its own money.
This is a bad sign. Specifically, it is an instance of the mainstream media starting to hint at the truth. I take this as a sign that things are getting worse, as the effort to keep up the pretense is no longer even remotely credible.
What this article shows, is that the economic models are wrong. That in itself is not news. Regular visitors know that all models are wrong. But they can be useful, if the underlying assumptions are correct, or nearly so.
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