Victor Khosla Sees 'Fat' Tail Risk in Credit Markets

> "The tail risk in credit is fat. This is a fat-tailed risk now. It's no longer a normal-tailed risk and something like software, how big a problem it is, I don't think we even quite know yet." - Victor Khosla (Discussing worst-case default scenarios) [00:03:03](https://www.youtube.com/watch?v=N4ZvFY3mob4&t=0h3m3s) > "If private equity firms have bought software businesses at 20 plus times cash flow relying on…