Andrei JikhPublished 2026-08-19
“Here's What Pops This Stock Bubble”
$APOBearish
Apollo's business model is risky due to opaque valuations, offshore liabilities, and dependence on cheap credit.
Athen's insurance policy holders get a fixed return no matter what happens. Those are two different groups of people. And when money moves from Athen over to Apollo, one group is making money at the other group's expense.
Blackstone, Apollo, KKR, Brookfield, along with asset managers like Black Rockck, they're all competing for these huge deals.