If we have two $n \times n$ matrices $M$ and $N$, does this mean that I can "wrap" $N$ around $M$, i.e., $M = N^{-1} M N$? If so, what property allows us to do this?
I'm more confident saying that $M = M I_n = M N N^{-1}$, but I don't see what property would allow me to shuffle the $N^{-1}$ to the other side.