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Zero, by Way of a Hundred
Risk of Ruin
The Failure of Diversification
During the mem stock craze, somehow all of the garbage became correlated. Branty has also had some uncomfortably high correlation. More recently, we shot frauds, and there are frauds in various sectors. The average wall streater knows pretty well to be sceptical about a gold mine that has suddenly announced ten million ounces. Speculative oil wells have a high propensity to fraud. But also a alternative energy has a very high fraud rate. And so clusters of frauds that not normally, got correlated at the time they happened.
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