ETF IQ

Milken Crowd Hates the Phrase ‘Semi-Liquid’ After Retail Exodus

‘Semi-liquid is kind of a diabolical name’

DoubleLine CEO Jeffrey Gundlach speaks during the 29th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California on May 6, 2026.Photographer: Patrick T. Fallon/AFP/Getty Images

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By Katie Greifeld

May 8, 2026 at 5:56 PM UTC

This article is for subscribers only.

Welcome to ETF IQ, a weekly newsletter dedicated to the $23 trillion global ETF industry. I’m Bloomberg News reporter and anchor Katie Greifeld.

The Milken Institute Global Conference descended on Beverly Hills this past week, and the vibes in the $1.8 trillion private credit industry were decidedly different than last year’s confab.