One Horse at a Time: A Mailbag Episode

This episode explores listener questions about various topics in business and finance. The hosts, Matt Levine and Katie Greifeld, field questions ranging from the potential for law firm IPOs and the implications of private credit moving to marketplaces, to more lighthearted inquiries about cyber horses and ETF ticker names. Against the backdrop of discussions about legal ethics and the challenges of public listings for people-centric businesses like law firms, the hosts delve into the complexities of private credit markets and the potential for increased liquidity. More significantly, the conversation highlights the tension between the desire for greater access to private credit investments and the importance of maintaining lender-borrower relationships. For instance, the discussion on a potential ETF for a specific basis trade reveals the challenges of creating a product based on a potentially transient market opportunity. Ultimately, the episode showcases the diverse range of financial issues that pique listener interest, offering insights into both the practical and the more whimsical aspects of the industry.