Thanks @tylercowen for introducing me to the concept of "The Idea Trap".
"...in troubled times people are more likely to turn to bad ideas. The distressed German economy of the 1920s and early 1930s, for example, helped to breed support for the Nazis."https://www.bloomberg.com/opinion/articles/2021-01-13/2021-will-be-better-than-2020-but-far-more-volatile …
can actually a valid rational response at times! e.g. high volatility but low expected return is the right play to make if you're really behind and need a hail mary.
