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#70 Mark Spitznagel: The Dao of Capital
Founders
The Real Black Swan Problem of Stock Market Bust
The real black swan problem of stock market bust is not about a remote event that is considered unforeseeable. The vast majority of market participants fail to expect what should be in reality perfectly expected events. We always want to do something onerous that will shower us with long term benefits, but we never want to do it today.
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