Matt Levine Live at Bloomberg HQ
Conversations with Tyler
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How Will Indexing Affect Securities Markets?
Good stores of value are relatively scarce compared to growing global wealth, and that money flows to each of those that has nowhere else to go. It's a sign of our paucity of insurance markets and other ways of protecting wealth,. And in some ways, it's a pessimistic sign. So the price can be permanently high, and we should be worried about our own inability to deal with risk."
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