The "barbell" strategy (avoiding the middle in favor of a linear combination of the extremes) is just such an effective model for society. And the medium risk s

The "barbell" strategy (avoiding the middle in favor of a linear combination of the extremes) is just such an effective model for society. And the medium risk space is perceived to be a sucker's game that combines the worst of both worlds (huge measurement errors of risk without the chance of outsize returns).