who shorts, rather than buying puts? when is it ok to have infinite, rather than contained, losses? hedge funds have been playing catch with grenades because they’re buddy-buddy but as soon as risk materializes from the outside it’s time to change the rules?
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i think that the
@nntaleb@paulportesi answer is people who feel confident that their tail risk is socialised, that they can sell it off. in addition to investors as "risk managers" behaving Communistic they 'manage' risk From Themselves to *You*2 replies 2 retweets 11 likesShow this thread
not to mention the fact this this is after the moneyed classes have just seen an unprecedented run up in their asset values, boosted in large part to the enthusiasm of the retail investor.
2:32 PM - 28 Jan 2021
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