“大空头”Moses称私募信贷零售化令其联想到次贷危机前夕

环球市场播报02-25

因电影《大空头》而为人熟知的基金经理Danny Moses表示，私募信贷和私募股权公司进军零售产品的举动，让他联想起次贷危机爆发前的岁月。　　周二在佛罗里达州迈阿密海滩举行的iConnections全球另类投资大会小组讨论会上发表的此番评论，正值对贷款标准担忧日益加剧下，汇集直接贷款资金的业务发展公司面临赎回激增之际。近年来，私募资本公司积极招揽个人投资者，从而加剧了担忧——普通储户的撤资潮可能...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2614727811?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-02-25 08:45","share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","id":"2614727811","market":"us","top_or_hot":-1,"title":"“大空头”Moses称私募信贷零售化令其联想到次贷危机前夕","media":"环球市场播报","content":"<div>\n<p>因电影《大空头》而为人熟知的基金经理Danny Moses表示，私募信贷和私募股权公司进军零售产品的举动，让他联想起次贷危机爆发前的岁月。\n　　周二在佛罗里达州迈阿密海滩举行的iConnections全球另类投资大会小组讨论会上发表的此番评论，正值对贷款标准担忧日益加剧下，汇集直接贷款资金的业务发展公司面临赎回激增之际。近年来，私募资本公司积极招揽个人投资者，从而加剧了担忧——普通储户的撤资潮可能...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2026-02-25/doc-inhnyupr1306478.shtml\">网页链接</a>\n\n</div>\n","source":"sina","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>“大空头”Moses称私募信贷零售化令其联想到次贷危机前夕</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n“大空头”Moses称私募信贷零售化令其联想到次贷危机前夕\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-25 08:45 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/usstock/c/2026-02-25/doc-inhnyupr1306478.shtml><strong>环球市场播报</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>因电影《大空头》而为人熟知的基金经理Danny Moses表示，私募信贷和私募股权公司进军零售产品的举动，让他联想起次贷危机爆发前的岁月。\n　　周二在佛罗里达州迈阿密海滩举行的iConnections全球另类投资大会小组讨论会上发表的此番评论，正值对贷款标准担忧日益加剧下，汇集直接贷款资金的业务发展公司面临赎回激增之际。近年来，私募资本公司积极招揽个人投资者，从而加剧了担忧——普通储户的撤资潮可能...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2026-02-25/doc-inhnyupr1306478.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0032431581.USD","symbol_name":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.sina.com.cn/stock/usstock/c/2026-02-25/doc-inhnyupr1306478.shtml","article_id":"2614727811","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2614727811","pubTimestamp":1771980300,"columns":[],"sourceInfo":{"source_id":"sina","name":"sina"},"weMediaInfo":null,"summary":"因电影《大空头》而为人熟知的基金经理Danny Moses表示，私募信贷和私募股权公司进军零售产品的举动，让他联想起次贷危机爆发前的岁月。　　Moses表示，“我在金融危机期间始终关注的是谁从中获得了激励，谁在向谁出售什么，又为何如此行事。”他后来与《大空头》投资者Porter Collins在Seawolf Capital共事，随后创办了Moses Ventures。“它很像当年的节奏，但并非《大空头》。”","collect":0,"end_time":0,"defaultTopTitle":"sina.com.cn","property":[],"viewcount":null,"language":"zh","relate_stocks":{"80992":"联想集团-R","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU1366334651.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"I\" (USD) INC","LNVGY":"联想集团ADR","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU0049112450.USD":"FIDELITY PACIFIC \"A\" INC","BK1193":"电脑硬件、储存设备及电脑周边","LU1366334578.USD":"ALLSPRING EMERGING MARKETS EQUITY INCOME \"A\" (USD) INC","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","00992":"联想集团","LU1235295612.USD":"FIDELITY PACIFIC \"A\" (USDHDG) INC","LU0791591158.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"I\" (USD) ACC","LU0791590937.USD":"ALLSPRING  EMERGING MARKTES EQUITY INCOME \"A\" (USD)","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK1526":"科网股","HK0000320223.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) ACC","BK1607":"新IT概念","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU1046422090.SGD":"Fidelity Pacific A-SGD","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU2242644610.SGD":"Fidelity China Innovation A-ACC-SGD","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD"},"translate_title":"\"Big Short\" Moses says the retailization of private equity credit reminds him of the eve of the subprime mortgage crisis","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"80992":0.6,"LNVGY":0.6,"00992":1.5},"content_text":"因电影《大空头》而为人熟知的基金经理Danny Moses表示，私募信贷和私募股权公司进军零售产品的举动，让他联想起次贷危机爆发前的岁月。\n　　周二在佛罗里达州迈阿密海滩举行的iConnections全球另类投资大会小组讨论会上发表的此番评论，正值对贷款标准担忧日益加剧下，汇集直接贷款资金的业务发展公司面临赎回激增之际。近年来，私募资本公司积极招揽个人投资者，从而加剧了担忧——普通储户的撤资潮可能给这个建立在难售资产基础上的市场带来压力。\n　　Moses表示，“我在金融危机期间始终关注的是谁从中获得了激励，谁在向谁出售什么，又为何如此行事。”他后来与《大空头》投资者Porter Collins在Seawolf Capital共事，随后创办了Moses Ventures。“它很像当年的节奏，但并非《大空头》。”\n　　推荐阅读：知名投资人警告私募信贷基金“失控在即” 瑞银预估违约率或达15%\n　　Moses说，当年是次级抵押贷款被卖给了脆弱的借款人。如今，则是企业将私募信贷推入面向零售的工具，这些工具承诺提供流动性，但其抵押资产却根本谈不上流动性。\n　　此外，由于公开市场的波动和并购活动的放缓阻碍了退出渠道，许多私募基金投资者已多年未获得分红。与会者指出，这一僵局始于风险投资，随后蔓延至私募股权，如今正冲击着私募信贷机构。\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：王永生","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2614727811","isCrawlerRequest":true}