The Acquittal Of Fear: How The Financial Crisis Changed Our Perception Of Reality

Late last year, when markets were in the throes of a quasi-meltdown characterized by a near-collapse in stocks, sharply wider credit spreads, grievous outflows from leveraged loans and sharply higher equity volatility, I lamented the investing public's perverse fascination with calamity. In the course of doing so, I cited a number of disconcerting developments, including an apparent inability on the part of market participants to discern their own role in various outcomes, a blind spot which I

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5 thoughts on “The Acquittal Of Fear: How The Financial Crisis Changed Our Perception Of Reality

  1. Imagine the value destruction an ethno-fascist administration would have on risk assets if the “gradual collapse of market volatility” dynamic wasn’t in effect.