Tail Risk Hedging | Nassim Taleb, The Fed, Macro 'Investing', Faith Based Alpha & Antifragility
Pirates of Finance
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The Risk of a Massive Shift to Passive Investing
There is a risk that if everyone. Stopped doing. Asset allocation decisions if you do have this massive shift to passive and everyone is allocating the retirements to a glide path 401k you do lose. The equilibrium chasing behavior or the equilibrium reinforcing behavior so I do think there is. At least philosophically a risk to like if this analysis if this work isn't done and people aren't changing their asset allocation. To in response to what's being offered in equities and bonds. Then then you miss calibrate the equilibrium. They're all very hard problems to solve but what he would here's what we will say. We often quote the equity risk premium as aerodynamic. Right where
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