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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
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.
It is as it has always been. Perception is reality and for many the reality is Schadenfreude., albeit mixed with a heavy dose of masochism.
Low risk tolerance??? Are you fukin kidding me? The search for yield and surge in LL riddles that statement absurd.
you’re not understanding it properly
IMHO, a re:read of Kipling’s “If” would be pertinent now (and pre- and post-crisis)