The "Private Equity Supercycle" Look at the data. Public markets: +8% YoY. Private Unicorn Index: +24% YoY. The alpha has migrated. It left the NYSE and went to private deals. Case in point: SBF put $500M into Anthropic in 2021 for ~8%. FTX bankruptcy estate panic-sold it for $1.4B. Today? That 8% is worth $28B at the latest $350B valuation. 56x. Gone. Because someone couldn't hold. If your portfolio is 100% public stocks, you are fighting with one hand tied behind your back. Diversify into the Supercycle. #Macro #Investing