What 100 weeks of explaining private markets has taught us

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This is the 100th edition of The Unsophisticated Investor. We're not going to make a big deal of it.

But 100 weeks of writing about private markets, regulation, and the quiet evolution of how people invest in Europe does leave you with something. Not a victory lap - more a clearer sense of what's genuinely hard to explain, what people consistently misunderstand, and where the real change is actually happening.

Here's what we've learned.