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Also why things like Lloyds of London started; to insure the risk of ships not returning.
by cjrp 3y ago
Also why things like Lloyds of London started; to insure the risk of ships not returning.
- jiggywiggy 3y agoYeah seems to be one of the foundational pieces of modern finance
- simonh 3y agoThe stock exchange was about spreading risk too. You could raise equity from many small investors that individually are assuming a relatively low risk. So arguably this was the foundation of modern capitalism too, just in time for the development of capital intensive industry to take advantage of the same financial structures.