Contagion: Chain Reactions and the CoCo Powder Keg
Many Happy Returns
Is There a Red Hot Capital Market?
People are asking for unlimited deposit guarantees from the central bank in the US. If you see red hot capital flows into any asset class or any particular sector, you can bet there's going to be a reckoning. Let's look at some examples: cryptocurrency, huge run up, incredible returns. And it took real strength, I think, not to be sucked into that. Everybody wants to have a go because if you see the returns of 1000%, 2000%, it's so difficult to resist that temptation.
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