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Economic and Market Commentary

Seven Lessons in Liquidity

Seven Lessons in Liquidity
Seven Lessons in Liquidity
Headshot of Jamil Baz
Headshot of Josh Davis
Headshot of Lloyd Han
Headshot of Sean Klein
 | {read_time} min read

Executive Summary

  • Elevated valuations have pushed investors toward higher-yielding, often less liquid assets.
  • This shift and the public collapse of several well-known investment funds have made liquidity risk more important than ever.
  • However, the process of characterizing liquidity risk is far from straightforward, and conventional wisdom can be dangerously misleading.
  • In this piece, we describe seven lessons in liquidity that may help investors and managers prepare for the next crisis.

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