3 ms·
It's because individual risks, in aggregate, become systemic risks. If one person makes a poor investment they can't afford, too bad for them. If a million peop
by rebuilder 10y ago
It's because individual risks, in aggregate, become systemic risks. If one person makes a poor investment they can't afford, too bad for them. If a million people get caught up in an investing mania and lose their shirts, that's going to destabilize the larger economy they're part of.