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So you're suggesting that despite years of education and learning from mistakes, investors never learn from their past mistakes, and that all of these crises W
by StrawberryFrog 17y ago
So you're suggesting that despite years of education and learning from mistakes, investors never learn from their past mistakes, and that all of these crises
Well, given the words "all of these crises" ... you tell me, do they?
- omarish 17y agoI think you're suggesting that they're all the same.
- StrawberryFrog 17y agoNo two historical events are ever identical. But these crises do have things in common. For one thing, they're all crises. For another, the people who benefit the most on the way up (bankers, brokers) are not the people who suffer the most on the way down (taxpayers, working poor, newly unemployed). That asymmetry, I think, has a lot to do with it. Investors have learned, yeah, learned how to game the cycle by externalising the losses.