Whenever an asset becomes so dependent on a single corporate balance sheet, you get interesting tail risks. Whether that’s good or bad depends on your time horizon. The blog post does a good job highlighting that the danger isn’t in day-to-day volatility but in how cycles amplify stress.
Whenever an asset becomes so dependent on a single corporate balance sheet, you get interesting tail risks. Whether that’s good or bad depends on your time horizon. The blog post does a good job highlighting that the danger isn’t in day-to-day volatility but in how cycles amplify stress.
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