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Ahh, I stated that too strongly and you restated it even stronger. The point I was trying to make was as the reserve fraction goes to zero, the leveraged money
by gvb 16y ago
Ahh, I stated that too strongly and you restated it even stronger. The point I was trying to make was as the reserve fraction goes to zero, the leveraged money goes up in a non-linear fashion. At some point 1/x where x trends to zero is unsustainable.